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U.S. Dollar / Japanese Yen
Short

USDJPY - SHORT - RISING WEDGE + DOUBLE TOP

By zorrays
Updated
WAITING FOR A WELL RECOGNISABLE CONTINUATION PATTERN WITH AN IMPULSE BREAK TO CONFIRM THIS SELL OTHERWISE NOT ACTIVE AS OF YET.

Bias: Short

Targets: Based on Fibonacci and structure

Confluences:

  • Rising Wedge (Reversal)

    Double Top on daily resistance

    Overall downtrend

    On HTF - rejected with a bearish impulse from monthly resistance

    RSI Divergence (Double Top)

    Fibonacci Inversion measured on wedge pushing the price to daily support

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TP 1 HIT
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TP 2
Trade closed: target reached
TP3 Hit
doubetopDouble Top or BottomDXYForexｆｘRelative Strength Index (RSI)Support and ResistanceUSDJPYWedge
zorrays

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