USDJPY - Bearish => Bullish => Bearish?
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 As per my last two analysis (attached on the chart), USDJPY rejected the $160 resistance and traded lower, then rejected the lower trendlines and traded higher.
What's next?
USDJPY has been trading within a medium-term rising channel marked in orange. And currently, it is hovering around the upper bound of the channel.
Moreover, it is retesting the $160 resistance level again.
🏹 Thus, it is a strong area to look for sell setups as it is the intersection of the green resistance and upper orange trendline acting as a non-horizontal resistance.
📚 As per my trading style:
I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
📈 As per my last two analysis (attached on the chart), USDJPY rejected the $160 resistance and traded lower, then rejected the lower trendlines and traded higher.
What's next?
USDJPY has been trading within a medium-term rising channel marked in orange. And currently, it is hovering around the upper bound of the channel.
Moreover, it is retesting the $160 resistance level again.
🏹 Thus, it is a strong area to look for sell setups as it is the intersection of the green resistance and upper orange trendline acting as a non-horizontal resistance.
📚 As per my trading style:
I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
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instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
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