In my previous analysis(attached below), I recommended selling USDJPY as it reached a very strong resistance.
The trade set-up is in 60 pips profit and I expect the trend to continue.
In case you didn't sell yet, there's a good chance that there will be some pullbacks which will bring new sellers.
So look for bearish flags on the lower timeframe and sell USDJPY.
USDJPY could reach 111, 110.40 this week.
On the other hand, if the resistance breaks, USDJPY could rally to 113. However, it looks less likely.
The trade set-up is in 60 pips profit and I expect the trend to continue.
In case you didn't sell yet, there's a good chance that there will be some pullbacks which will bring new sellers.
So look for bearish flags on the lower timeframe and sell USDJPY.
USDJPY could reach 111, 110.40 this week.
On the other hand, if the resistance breaks, USDJPY could rally to 113. However, it looks less likely.
Note
Reached first TP
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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.