Short Opened 4 short positions (1 trading side divided into 4 small sizes):
148.622 has been the major support area USDJPY was struggling to break below since last December, however, it finally broke and closed below that level on March 4th 25 (red vertical line in 4H chart).
Since then, USDJPY has been oscillating between 150.24 and 146.55, but this morning it decisively broke and closed below the key level.
Price is below EMA 200 in Daily and 4H.
Daily MACD is in bear territory and Daily stochastic has reached over bought territory and starting to come down.
All momentum indicators in 4H are forming negative divergence.
Entry price - 148.556
S/L - 149.39 (just above the previous week high)
Target 1: 147.30 (previous low in 4H)
Target 2: 146.55 (previous low in 4H)
Target 3- 145
Target 4: 142.26 (Fib 1.618 in Daily)
If Target 1 and 2 are hit successfully, I will adjust SL I will update the progress.
