USDJPY WILL THE BEARISH CHANNEL CONTINUE OR BREAK?
Hi everyone, I'm a USDJPY trader and this is my first post on here.
We have been in a Downtrend from some time now with Lows found at 108.130 level...
This recently rally could be a correction from the downward move.
Channel has already been respected when prices tested 113.000 Resistance on Thursday...
There are two ways to play this: Watch for clear break of channel price wise we will carefully be looking at 113.000
A solid close above (Possible Retest of 113.00) we will want to target 115.500 to the upside which serves as the next major resistance...
I personally have a bearish bias with USDJPY we will be looking to target 108.130 ounce again ounce I get a clear confirmation of bearish
sentiment... We may get possible retest of 113 going to watch PRICE ACTION there if prices decided to move up there.
Conservative setup will be a break below 112.000 to ENTER SHORT and ride it down from there...
STAY TUNED FOR UPDATES
COMMENT WHAT YOU THINK BELOW...
Check me out on Telegram as I provide daily technicals in there on EURUSD/GBPUSD/USDJPY AND GOLD
DOWNLOAD TELEGRAM THAN TYPE t.me/superior4x INTO YOUR WEB BROWSER AND JOIN...
ALSO FOLLOW ME ON YOUTUBE SUPERIOR4X :)
We have been in a Downtrend from some time now with Lows found at 108.130 level...
This recently rally could be a correction from the downward move.
Channel has already been respected when prices tested 113.000 Resistance on Thursday...
There are two ways to play this: Watch for clear break of channel price wise we will carefully be looking at 113.000
A solid close above (Possible Retest of 113.00) we will want to target 115.500 to the upside which serves as the next major resistance...
I personally have a bearish bias with USDJPY we will be looking to target 108.130 ounce again ounce I get a clear confirmation of bearish
sentiment... We may get possible retest of 113 going to watch PRICE ACTION there if prices decided to move up there.
Conservative setup will be a break below 112.000 to ENTER SHORT and ride it down from there...
STAY TUNED FOR UPDATES
COMMENT WHAT YOU THINK BELOW...
Check me out on Telegram as I provide daily technicals in there on EURUSD/GBPUSD/USDJPY AND GOLD
DOWNLOAD TELEGRAM THAN TYPE t.me/superior4x INTO YOUR WEB BROWSER AND JOIN...
ALSO FOLLOW ME ON YOUTUBE SUPERIOR4X :)
Trade active:
We got a break of 113.00 and Retest Price is currently in 60 +PIP PROFIT... FEEL FREE TO TAKE PROFIT NOW OR MOVE SL TO HAVE A RISK FREE RIDE...
AS LONG AS WE STAY ABOVE 113.000 WE SHOULD BE GOOD TO BUY ON DIPS...
BREAK BELOW 113 WE WILL CONSIDER SHORTS...
STAY TUNED IN TELEGRAM GROUP
t.me/superior4x
AS LONG AS WE STAY ABOVE 113.000 WE SHOULD BE GOOD TO BUY ON DIPS...
BREAK BELOW 113 WE WILL CONSIDER SHORTS...
STAY TUNED IN TELEGRAM GROUP
t.me/superior4x
THE DAILY CANDLE CLOSED BELOW 114 (PSYCHOLOGICAL LEVEL)
CURRENT VIEW IS IF A NEW HIGH IS NOT FORMED ABOVE TUESDAY HIGH @114.325
WE ARE GOING TO GET BEARISH MOMENTUM...
WAITING FOR BREAK BELOW 113.620 TO SELL...