USDJPY SHOWING A GOOD DOWN MOVE WITH 1:8 RISK REWARD USDJPY SHOWING A GOOD DOWN MOVE WITH 1:8 RISK REWARD
DUE TO THESE REASON
A. its following a rectangle pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
Usdjpyprediction
USD JPY Pullback expected !!!The price has cleared 151 lvl and halting near the resistance 151.950 or 152 as rd fig
this resistance is monthly high
expected the price to go sideways and make a build up before making the breakout
also as decided in the post of DXY, similarly here some fair value area are let behind after strong one side up move
149.700 to 149.550 there is good fvg to trade on
thereafter 148.300 148.900 which is little less probable to see upto next week
(only there is no breakout above 152 level)
USD JPY TRADE SETUPTechnical Analysis- The 4 hour is turning up against 3/09/2020 low (101.16). 1 hour is turning up against 106.71 low. Near-term correction against 3/09/2020 low is proposed complete at 105.96 low, while dips remain above 106.71 low and more importantly above 105.96 low expect pair to extend higher.
Long USDJPY
@107.10-107.00
TP: 107.80
Sl: 106.75
Good Luck !