USDJPY trading in descending channel - Short entry approaching
USDJPY Trading in descending channel, shown on one hour chart. Approaching channel resistance. Might be a few days away still. Looking for short entry swing trade.
USDJPY also a good indicator of risk sentiment. A change in trend to the downside may correlate with a short term top in S&P and attract buying pressure across the precious metals.
USDJPY also a good indicator of risk sentiment. A change in trend to the downside may correlate with a short term top in S&P and attract buying pressure across the precious metals.
Note
Strong move up into channel resistance. False breakout (A breach of channel support or resistance is often followed by a test of the opposite side of the channel. example of this is seen on the chart, two attempts by bears to break below the channel in August). Price reversed lower. Entered short 108. I like this trade. Will add position if we break below white dashed trend-line.
Related publications
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.
Related publications
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.