USDJPY has been fluctuating within a range between near 112 to 110 as the market is still filled with a lot of unexpected events and causing a lot of uncertainties in the market.
The price is now seen trading at the top of the range and is likely to reverse and fall.
To confirm a reversal, I have waited for the price to break below the rising trendline, and secondly, a retracement back to the trendline resisted and fall again.
There is an obvious space for the price to fall further, and thus we can look to short again within the supply zone.
The price is now seen trading at the top of the range and is likely to reverse and fall.
To confirm a reversal, I have waited for the price to break below the rising trendline, and secondly, a retracement back to the trendline resisted and fall again.
There is an obvious space for the price to fall further, and thus we can look to short again within the supply zone.
Trade active
ShortTrade closed manually
Supply zone failed to garner enough seller. ECB press conference ahead. Cut position to reduce risk.
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.
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.