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Killy_Mel

FX CHART OF THE DAY: USDJPY MEAN REVERION DOWN PROBABILITY

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Killy_Mel  
FX:USDJPY   U.S. Dollar / Japanese Yen
USD (US Dollar) mean revertion down short
2
0
usd-us-dollar mean revertion down short
USDJPY is breaking below the 1st standard deviation from weekly (120-hour) mean after a leg of uptrending move.

Price is likely to tag the mean before continuing further - to recharge volatilty.

Traders can pick shorts close to the upper 1st standard deviation (124.70) aiming to the mean (124.30)

Stops should be placed above relevant highs (125.10), tagging of which will confirm another leg of uptrend.
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