USDJPY Short position Idea
By breaking down the monthly, weekly, daily and 4 hourly Support and Resistance levels, we notice that 108.300 (a psychological number) which is a key support area in the past could be broken.
If Price breaks below my trendline (red downwards trend) and 108.300, this could be a good shorting position as key numbers were broken, price fell beneath the trendline, and previous support now becomes a resistance level.
Around a 50 pip gain with a 13pip stop loss, let's see what happens this week!
If Price breaks below my trendline (red downwards trend) and 108.300, this could be a good shorting position as key numbers were broken, price fell beneath the trendline, and previous support now becomes a resistance level.
Around a 50 pip gain with a 13pip stop loss, let's see what happens this week!
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.