rishabhkilaniya

USD/JPY looks ready on daily timeframe!

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
USD/JPY is seen to respect channel on daily and weekly timeframe!
This could be a potential down move, things to consider:
1. Weekly and daily channel formation
2. Weekly downward movement started
3. Strong Downtrend

How to enter:
1. Switch to 4hr timeframe
2. Find the daily/weekly resistance zone
3. Wait for the downward momentum on 4h
4. Use channel, bolliger bands and Fibonacci for TP AND SL

ALL THE BEST!

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