USDJPY Analysis: Shorting Opportunity Ahead
- Timeframe: Weekly chart shows RSI Divergence
- Trade Bias: Shorting opportunities favored
Analysis:
- Weekly Chart: RSI Divergence signals potential reversal
- 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry
- Combo Trade Strategy: Stretching targets for lower risk and higher returns
Combo Trade Strategy Explained:
- Definition: Trade management system to extend targets for enhanced risk-reward ratio
- Benefits: Lower risk exposure, higher potential returns
Trade Plan:
- Shorting opportunities identified on USDJPY
- Entry upon retest of 151.74 resistance level on 4-hourly chart
- Utilize combo trade strategy for optimized risk management and profitability
Additional Insights:
- Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy
- Flexibility in trading approach across multiple currency pairs
Final Thoughts:
- Market dynamics are not constrained by directional movements of specific currency pairs
- Focus on trading opportunities presented by price action and technical indicators
- Adaptability and versatility are key to successful trading in dynamic market conditions
💡 Your Thoughts?
What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below!
👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
- Trade Bias: Shorting opportunities favored
Analysis:
- Weekly Chart: RSI Divergence signals potential reversal
- 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry
- Combo Trade Strategy: Stretching targets for lower risk and higher returns
Combo Trade Strategy Explained:
- Definition: Trade management system to extend targets for enhanced risk-reward ratio
- Benefits: Lower risk exposure, higher potential returns
Trade Plan:
- Shorting opportunities identified on USDJPY
- Entry upon retest of 151.74 resistance level on 4-hourly chart
- Utilize combo trade strategy for optimized risk management and profitability
Additional Insights:
- Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy
- Flexibility in trading approach across multiple currency pairs
Final Thoughts:
- Market dynamics are not constrained by directional movements of specific currency pairs
- Focus on trading opportunities presented by price action and technical indicators
- Adaptability and versatility are key to successful trading in dynamic market conditions
💡 Your Thoughts?
What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below!
👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
We believe that we should not slog our life away. Keep working to the minimum. How about 15mins a day?
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
tiktok.com/@raynlim
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
tiktok.com/@raynlim
Related publications
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.