If the market is able to close above 105.6, that will confirm a reversal for USDJPY as well as all JPY pairs. We can clearly see the divergence on the 1 hr time-frame.
So how do we take this trade?
If the market is able to close above 105.6 on the 4hr time-frame, wait for a retracement at 105.3 and enter a long.
First TP is given. Stop Loss below the false break.
If you agree with this analysis, give this chart a thumbs up. If you disagree, please share your thoughts so we can all learn from you.
Thank you and good luck
So how do we take this trade?
If the market is able to close above 105.6 on the 4hr time-frame, wait for a retracement at 105.3 and enter a long.
First TP is given. Stop Loss below the false break.
If you agree with this analysis, give this chart a thumbs up. If you disagree, please share your thoughts so we can all learn from you.
Thank you and good luck
Trade closed: target reached
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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.
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.