Forex Correlations - Trading USDJPY30M
Looking at the USDJPY30M chart, I have plotted a dynamic Forex correlation indicator. We are able to quickly conclude that the best currency pair to trade on Friday morning was indeed USDJPY30M chart. As you can see USD (red line) was stronger and raising and was above JPY (green line) which was falling. Hence, we would go long USDJPY30M and stayed put till the close of session as the price was above the custom built indicator plotted on the price chart.
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