USD/JPY: Selling it next week ! Check why
Updated
Hi guys,
We have a very nice bearish divergence on H4 but not yet on shorter timeframes suggesting the pair is preparing to go down but is not fully ready yet, so no rush. We could have a nice confluence of two resistances (check the chart) so it would be a perfect area to short the pair. The potential is about 70-75 pips on this trade.
As you can see we have selling volume at the highlighted area.
The same way I am bullish on GBP/USD (please check my idea on the link below), I am bearish on USD/JPY, so generally speaking a USD seller for next week.
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The trading plan:
Wait to have a bearish divergence on H1 or M15. As soon as it is formed I will short the pair. My target will be the support of the trend line.
Trade with care
P.S: If you do like my ideas please add a thumb up or a comment :-)
Thanks
Jesse
We have a very nice bearish divergence on H4 but not yet on shorter timeframes suggesting the pair is preparing to go down but is not fully ready yet, so no rush. We could have a nice confluence of two resistances (check the chart) so it would be a perfect area to short the pair. The potential is about 70-75 pips on this trade.
As you can see we have selling volume at the highlighted area.
The same way I am bullish on GBP/USD (please check my idea on the link below), I am bearish on USD/JPY, so generally speaking a USD seller for next week.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
The trading plan:
Wait to have a bearish divergence on H1 or M15. As soon as it is formed I will short the pair. My target will be the support of the trend line.
Trade with care
P.S: If you do like my ideas please add a thumb up or a comment :-)
Thanks
Jesse
Trade closed: target reached
At least this one was a great one ! lol
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