U.S. Dollar / Japanese YenUpdated $USD/JPY -Giant Bearish Flag *W
- Awaiting Change of Character (CHoCH) for USD/JPY on *W tf (weekly time-frame).
Market Structure looks healthy in terms of Higher Lows on smaller time frames (1-4hr)
Decent probable Shorting opportunity in case USD/JPY fails CHoCH.
Shorting opportunity on Resistance Trendline of Bearish Flag Pattern on *W is perfect.
Pullbacks to at least 20 EMA *W + S/R zone.
Volume is aswell below average on *W
Price seems over extended for now despite The Uptrend Market Structure on
smaller time-frames
(screenshot attached at comment section)
Market Structure looks healthy in terms of Higher Lows on smaller time frames (1-4hr)
Decent probable Shorting opportunity in case USD/JPY fails CHoCH.
Shorting opportunity on Resistance Trendline of Bearish Flag Pattern on *W is perfect.
Pullbacks to at least 20 EMA *W + S/R zone.
Volume is aswell below average on *W
Price seems over extended for now despite The Uptrend Market Structure on
smaller time-frames
(screenshot attached at comment section)
Note
(Zoomed in Uptrend)
Post-Symmetrical Triangle Break-out
Trade active
USD/JPY (update) Short Entry at the target given
TP areas as OB and Demand Zones.
Note
Local Resistance for USD/JPY*Daily (tf) 142.255
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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.