Hello traders. On this 4H analysis of USDJPY, we have a recently tested resistance level that showed strong rejection in the 115.430 region. This level is currently being retested and a good entry reason for this short position would be the confirmation of a trend reversal pattern such as a double top, triple top, etc. Upon confirmation of a reversal pattern, the projected target would be in the 114.350 region.
Order cancelled:
This setup has been invalidated. There was no resistance at the previously tested level.