USDJPY Trade Idea

Dec 21, 2020

UJ has been in a long-term downtrend post-Covid. UJ had a bearish doji candlestick in the last 4h candle. Avoid shorting the market based on such candlestick pattern in the middle of choppy range, as it is most likely where big players or institutions looking to trap majority of the retail traders. Currently looking for price to have a clear directional bias, ideally breaking the 103.680 resistance zone for some bullish setup with 104.650 as primary target.

Trade safe.