USD/JPY Short Setup – Dual Entry Strategy
I’m observing a bearish opportunity on USD/JPY, with a potential continuation of the downward trend. The pair recently broke below significant support levels and is trading below the 200 SMA on the 4H chart, confirming bearish momentum.
Key Analysis – Dual Entry Strategy:
- Conservative Entry: Around 151.89, a key resistance zone aligned with previous price reactions, ideal for risk-averse traders;
- Aggressive Entry: Around 150.74, closer to the broken support level, targeting a weaker pullback before the continuation of the downtrend.
Important Entry Condition:
The price must reject these resistance levels before entering. Look for a strong bearish close on either the 4H or 1H timeframe below the respective resistance levels to confirm entry.
Trade Parameters:
- Stop-Loss: Just above 152.00.
- Take-Profit: Primary Target: 148.15 (major portion of the position). Extended Target: 146.50 (held for 10-15% of the position for potential continuation).
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Key Analysis – Dual Entry Strategy:
- Conservative Entry: Around 151.89, a key resistance zone aligned with previous price reactions, ideal for risk-averse traders;
- Aggressive Entry: Around 150.74, closer to the broken support level, targeting a weaker pullback before the continuation of the downtrend.
Important Entry Condition:
The price must reject these resistance levels before entering. Look for a strong bearish close on either the 4H or 1H timeframe below the respective resistance levels to confirm entry.
Trade Parameters:
- Stop-Loss: Just above 152.00.
- Take-Profit: Primary Target: 148.15 (major portion of the position). Extended Target: 146.50 (held for 10-15% of the position for potential continuation).
If you follow me, you will receive the updates to this idea.
Note
Enter now short at 150.56.Trade closed: target reached
I decide to take ALL profit USDJPY due to unfavourable price action and NFP. Price 150.10.
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Disclaimer
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If you want to learn about trading, we have a telegram group. Join us here: t.me/+vT_3XCSL6uI1ZmU8
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.