Hey traders,
USDJPY reached a year's high.
Being a major key level, we will try to catch a pullback from that.
111.6 - 111.8 is our potential reversal zone.
The confirmation that we are looking for is a bearish violation of a rising parallel channel on 2H time frame.
That will be a trigger for you to short.
First support will be 110.84
In case of a bullish breakout of the underlined structure on a daily,
the setup will be invalid and further bullish continuation will be expected.
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
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.