USDJPY SHORT 06/07/2023
USDJPY Formed a hidden bearish divergence.
Volume profile
Previous day value area high aligns with equilibrium at 139.650.
USDJPY Formed a hidden bearish divergence.
Volume profile
Previous day value area high aligns with equilibrium at 139.650.
Note
Based on my analysis, I anticipate a downward trend in the market for USDJPY. This expectation is primarily driven by the presence of a hidden bearish divergence, which suggests a potential reversal in the current upward momentum. Furthermore, the 50 percent or equilibrium level aligns closely with the high of the previous day's volume profile, indicating a significant resistance area. These factors together indicate a high probability of a downward movement in the USDJPY market. Traders should closely monitor these indicators and consider implementing appropriate risk management strategies in light of this analysis.Note
Close position at 139.867 / +0.10%Bullish Divergence on 5 minutes TF.
Hoping to enter short again at 140.042.
Note
Price went up at 140.042.Entered short at 140.042.
Currently in profit for +0.07
Still aiming for 139.650.
Trade closed: target reached
TP'ed 139.688
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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.