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U.S. Dollar / Japanese Yen
Short
Updated

USD/JPY Potential Short Opportunity - 4 R/R

56
A slight pull back to 108.6 area will give a potential:
  • 38.2 retracement
  • rejection of previous lower time frame descending trend
  • rejection of higher timeframe support/resistance.


Good R/R comes from targeting previous strong higher timeframe support/resistance
Trade active
Trade entered using 5 min entry at 108.628
DanJB_Fx
Chart PatternsdaytradeFibonacci RetracementTechnical IndicatorsmacdivergenceshortshortsetupTrend AnalysisTrend Line BreakUSDUSDJPY

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.
Chart PatternsdaytradeFibonacci RetracementTechnical IndicatorsmacdivergenceshortshortsetupTrend AnalysisTrend Line BreakUSDUSDJPY
DanJB_Fx

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.