Possible Drop for USDJPY

Short

U.S. Dollar / Japanese Yen (OANDA:USDJPY)

Updated

OANDA:USDJPY U.S. Dollar / Japanese Yen

trendanalysis chartpattern indicator usdjpy usdjpylong usdjpyanalysis usdjpydaily usdjpysell usdjpyforecast usdjpyidea signals accurate

Possible drop for USDJPY. I have been following this pair closely for a few months now and it has been acting throughout a descending wedge and I have been awaiting the breakout of the wedge and it has occurred today. The price has also been moving under both the 200 EMA and 50 EMA which also adds to the short bias. I have placed a long term trade with over 200 pips Take Profit and just under 90 pips stop loss. I entered this trade at price of 108.310, so already in profit, this post has been uploaded a bit later than when I entered the trade from. Keep an eye out for updates.

USDJPY

Comment:

Now is a good time to enter! Price has successfully completed a full pullback to the trend line channel and should now head on down

Comment:

Put Stop losses into profit at 107.600!

This is 80 pips in profit, price is currently at just under 100 pips profit!

Comment:

**150 PIPS IN PROFIT!!**

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