Sell USDJPY (Daily)

Mar 31, 2019

in Daily chart :
The resistance level at 111
Broken support level
61.8% fibo retracement
Downtrend line

> Sell
Entry : 111.00
Stop : 111.30 (30 pips)
TP1 : 110.40 (60 pips)
TP2 : 109.80 (120 pips)


in 4H chart :
The resistance level at 111.1
Regular divergence

[img] [img]

Apr 1, 2019

Trade active

Trade setup activated

Apr 1, 2019

Note

We can see shooting star and bearish pin bar at 111.00 , so we sell at a good area.

[img] [img]

Apr 1, 2019

Trade closed: stop reached

Profit : -30 pips

But we can look for another sell dealing downtrend line in daily chart and 78.6% of fibo retracement.

Entry : 111.42
Stop : 111.75 (33 pip)
TP1 : 110.5 (90 pips)
TP2 : 109.8 (160 pips)

[img] [img]

Apr 1, 2019

Note

Regular divergence in 4H chart.
Lower price but higher RSI.
Overbought in RSI indicator

[img] [img]