Hello traders!
This trade is based on JP strength and patterns coinciding with USD/JPY. I see a chance to scalp about a 100 pips on this trade. What we see here is a probably ABCD pattern and the target for this pattern almost coincides with the Weekly Pivot Support 1 which adds weight to the target.
I suggest that you can enter short on this pair at the daily pivot point at 140.21 with stop loss above the C point which is around 140.75.
Take profit is @ 139.00
The daily volatility indicates a move of about 140 pips and in which case this trade should be completed before the end of day today.
Hope this brings some nice pips into your kitty for the day!
Happy trading and happy pippin!
This trade is based on JP strength and patterns coinciding with USD/JPY. I see a chance to scalp about a 100 pips on this trade. What we see here is a probably ABCD pattern and the target for this pattern almost coincides with the Weekly Pivot Support 1 which adds weight to the target.
I suggest that you can enter short on this pair at the daily pivot point at 140.21 with stop loss above the C point which is around 140.75.
Take profit is @ 139.00
The daily volatility indicates a move of about 140 pips and in which case this trade should be completed before the end of day today.
Hope this brings some nice pips into your kitty for the day!
Happy trading and happy pippin!