Short Position USDJPY
Updated
Short position looking to be opened
On the Daily chart (right) you can see the price has been channeling down over the past couple of months and recently bounced off the major 100 mark.
The 4 hour chart shows a reversal coming in to play as price has hit the upper downwards channel line and now has also closed below the 4h 20SMA
Stop will be set above the upper channel line and the target will be near the 100 mark
On the Daily chart (right) you can see the price has been channeling down over the past couple of months and recently bounced off the major 100 mark.
The 4 hour chart shows a reversal coming in to play as price has hit the upper downwards channel line and now has also closed below the 4h 20SMA
Stop will be set above the upper channel line and the target will be near the 100 mark
Note
If price breaks trendline then I'll close my position
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.