hey guys,
though many traders sell usdjpy following bearish breakout of a narrow trading range
where the pair was trading for more than one week,
I have the opposite view.
looking left we see that we have a lower support 111.7 level.
+ taking into consideration a rising channel,
the market has respected its support line and still trading inside.
SELL USDJPY ONLY AFTER BEARISH BREAKOUT OF A CHANNEL.
for now sentiment is still bullish and the market has space to go higher,
no need to rush and follow talking heads,
be patient and wait for a confirmation!
same logic with buying:
yes looking left we are standing on significant structure resistance.
so let the market break this resistance and then buy!
Note
Trading inside the trading rangeNote
Bulls come into play
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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.