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U.S. Dollar / Japanese Yen
Short

USDJPY: Bearish Trend Continuation

202
Hello everyone.

As seen on my chart, im expecting a bearish trend continuation seen on higher timeframes after what I believe could be some stop hunts!!

Used a fib to mark premium and discount zones. I expect price to continue go down once the premium zone is hit.

Feel free to leave your thoughts and feedback in a comment, I would heavily appreciate it.
Note
snapshot ALTERNATIVE SCENARIO: Since there is another liquidity zone (now marked on the chart) its possible that the stop hunt we are looking for is actually lower than I was previously expecting. I will still stick to my original one, but I post this one as insight. Stop loss remains above the higher liquidity zone just in case the original plan still goes along, keeping a RR of 1:1.5! Let me know your thoughts.
degitah
FibonacciForexforexanalysisTechnical IndicatorsshortTrend AnalysisUSDJPYusdjpyshort

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FibonacciForexforexanalysisTechnical IndicatorsshortTrend AnalysisUSDJPYusdjpyshort
degitah

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.