Fundamentals in favour of USD with the exception of dollar crash
Retail sentiment currently bullish (most retail traders lose money)
since sentiment is bullish this will likely lead USDJPY to continue bearish
Trade idea:
scenario 1 wait for market to break counter trend bearish,
after break wait for retest of resistance and wick rejection then
enter short
scenario 3 wait for market to break above down-trendline
after break wait for low and retest of support,
after wick rejection enter bullish
Stop loss will go below structure
Take profit 3x risk
Retail sentiment currently bullish (most retail traders lose money)
since sentiment is bullish this will likely lead USDJPY to continue bearish
Trade idea:
scenario 1 wait for market to break counter trend bearish,
after break wait for retest of resistance and wick rejection then
enter short
scenario 3 wait for market to break above down-trendline
after break wait for low and retest of support,
after wick rejection enter bullish
Stop loss will go below structure
Take profit 3x risk
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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.
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.