I am placing a longer term short on USD JPY based on this beautiful weekly pinbar. As you can see price was pushed up into our MA and rejected forming the pinbar. So far price worked its way back up around half the distance of the tail and I am expecting a drop anytime now. I will be holding this one for awhile.
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I entered a little early but I knew that. We got to see some bullish action and a very nice rejection on the weekly MA forming a huge daily pinbar. I have entered 2 more sells on this pair.