USDJPY Potential Sell Limit & Market
Currently UJ is in a large consolidation, However we've seen bearish pressure as price failed to hit the Top of the consolidation box. Do note that USD retail sales would be expected later today; (Leading towards more bearish USD)
Core Retail Sales m/m (Forecast/Previous)
-0.1% -0.4%
Retail Sales m/m
-0.7% -1.1%
I'm looking at 2 potential entries for a sell:
Sell 1 (Sell Limit):
The entry would be on a retest of the previous Lower High to fill the liquidity left around level 109.600-109.700.
Sell 2 (Sell Market):
Wait on a bearish confirmation on level 109.500 to enter market in case price doesn't test Sell Limit area
Take Profits (Both orders):
Take profits will be placed on the bottom of the Consolidation box with a partial profit would be at previous low.
Core Retail Sales m/m (Forecast/Previous)
-0.1% -0.4%
Retail Sales m/m
-0.7% -1.1%
I'm looking at 2 potential entries for a sell:
Sell 1 (Sell Limit):
The entry would be on a retest of the previous Lower High to fill the liquidity left around level 109.600-109.700.
Sell 2 (Sell Market):
Wait on a bearish confirmation on level 109.500 to enter market in case price doesn't test Sell Limit area
Take Profits (Both orders):
Take profits will be placed on the bottom of the Consolidation box with a partial profit would be at previous low.
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.