Hey,
My idea on USD/JPY:
This zone seems to be very strong and hard to be broken. Every time it comes here, it gets smacked back to 112.00 lows. In my point of view, this is preparing for a turn again.
As a matter fact, I noticed that each rally to this zone is lower and lower which could be a descending triangle ( buyers cant really make it higher) which is another sign for a sell.
I am anticipating slow down of this recent H4/H1 strong buying pressure. Either in the zone of the recent high or the current area.
Potential sell towards the recent botm.
Decent stop loss area - 113.50
My idea on USD/JPY:
This zone seems to be very strong and hard to be broken. Every time it comes here, it gets smacked back to 112.00 lows. In my point of view, this is preparing for a turn again.
As a matter fact, I noticed that each rally to this zone is lower and lower which could be a descending triangle ( buyers cant really make it higher) which is another sign for a sell.
I am anticipating slow down of this recent H4/H1 strong buying pressure. Either in the zone of the recent high or the current area.
Potential sell towards the recent botm.
Decent stop loss area - 113.50
Comment:
Aggressive sell. Wanna see a better price or I will let it go.
