20200424 USDJPY – Sideways Bounce

Classic support and resistance that yield 45pips of profits if you choose to trade within the boundaries of the Roof(Resistance, Red) and the Floor(Support, Blue). A sideway bounce trading strategy is 1 of my favourite trading setup. I am waiting for the candle close at the black line region and preferably touching the extreme(red; blue line) without breaking and closing above; below it to engage the trade.

P/S: The black line is for my alert purposes only.