Hello traders, USDJPY has been making massive bullish moves this entire week. The overall trend is bullish until the market says so. BUT, I see an opportunity to go short on this pair for extra pips as a counter trend trade. Here's what I see:
1. Divergence on the RSI
2. Price action showing weakness
3. Approached a 1 Hr price zone
1. Divergence on the RSI
2. Price action showing weakness
3. Approached a 1 Hr price zone
Note
Here is a zoomed out look of USDJPY, and extra confirmation for this counter-trend trade
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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.