Hey,
My idea on USD/JPY:
This massive sell on the daily chart reached 111.70. It broke it but it came back in quickly.
It started rising and reached the underlined daily resistance and then crashed completely. Hence, this sell might be still on.
I am looking at the current move as a last attempt and since there were no any significant barriers between (on its way up) he price came at this point.
I just entered this trade with a safe stop loss above the daily and H4 resistance.
Looking for H4 targets around 112.60
Good luck :)
My idea on USD/JPY:
This massive sell on the daily chart reached 111.70. It broke it but it came back in quickly.
It started rising and reached the underlined daily resistance and then crashed completely. Hence, this sell might be still on.
I am looking at the current move as a last attempt and since there were no any significant barriers between (on its way up) he price came at this point.
I just entered this trade with a safe stop loss above the daily and H4 resistance.
Looking for H4 targets around 112.60
Good luck :)
Note
If this rise reach the zone around 113.50 we should be very careful with the next move. There would be two options.1) Strong bearish pressure which would confirm that this movement was a faker and the sell is still on
2) Weak sellers and no lower lows which would be a sign of buyers coming back.
This is in case the price reaches 113.50
Note
Sorry, 113.43 *Note
Looking to add more positions on this one based on H1 towards my main target.Note
Trade closed: target reached
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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.
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.