USDJPY PROFIT

USDJPY PROFIT
14th May 2018 contacttf
In the forex market, think of money as a commodity, you are buying a currency hoping that its value will increase, and if you are selling you are betting that it will decrease. ... Instead the forex market is an interbank market, which means it's all connected together in a network of banks and institutions.

The price has been moving sideways all the way until the 2 hour chart.

Price overshot my resistance point, but I was cautious about this area becoming support.

Trade closed manually.

After trade analysis
My profits would have doubled had I still been in.

The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

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