USDJPY Opportunities for Both Bears and Bulls

Jul 21

Here’s an exciting update on USDJPY, which has something for both short-sellers and those looking to buy. Let’s dive in!

Current Overview:
- 4-Hourly Chart:
- There’s a sell zone, but the overall movement of USDJPY is on a bullish ride. :chart_with_upwards_trend:

Shorting Opportunity:
- Key Level: 157.69
- What to Do: If you’re looking to short, watch for a Magic Candle Confirmation within the sell zone (red box). The ideal entry would be at 157.69.

Buying Opportunity:
- Key Pattern: Potential Head and Shoulders Formation
- Key Level: 157.69
- What to Do: Like me, if you’re waiting to buy, this is the level to watch. Wait for a Magic Candle Confirmation at 157.69 to enter a long position, betting on a Potential Head and Shoulders Formation.

Final Thoughts:
Whether you’re looking to short or buy, the key is patience and waiting for confirmation. Trading is all about making informed decisions and managing risk effectively.

What’s your plan for USDJPY? Are you in the short camp or the long camp? Share your thoughts and strategies below!

Happy trading, everyone!