Hello fellow traders and investors,
USDJPY is facing a linear resistance and the bulls look exhausted on the lower timeframes. We can see a rising wedge on the 4H timeframe, combined with divergence at this resistance cluster. See below:
Therefor we think it's worth the risk to short this pair until the channel support, with a proper risk management. This is a 1:9 risk to reward, really a rare occasion.
Good luck and don't forget to give us a thumb if you like our analysis! If you have any questions or want us to analyse a specific pair, feel free to contact us.
Regards, ValescoTradingGroup
USDJPY is facing a linear resistance and the bulls look exhausted on the lower timeframes. We can see a rising wedge on the 4H timeframe, combined with divergence at this resistance cluster. See below:
Therefor we think it's worth the risk to short this pair until the channel support, with a proper risk management. This is a 1:9 risk to reward, really a rare occasion.
Good luck and don't forget to give us a thumb if you like our analysis! If you have any questions or want us to analyse a specific pair, feel free to contact us.
Regards, ValescoTradingGroup
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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.