Claty123
Short

USDJPY Double Top Sell Stop

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY Failed again yesterday at the 110 handle, a huge psychological level for the pair, it also sits on 61.8% fib from the jan to march sell off. we now have a double top forming, i have set a sell stop at 108.5, as if the double top neckline breaks we'll potentially see it fall to fresh 2018 lows. Have we just set a new lower high on the daily? could we be looking at Sub 100 levels now? Comment below!
beautiful mate. could see this go to 1.272 lvl also
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Could be seeing a triple top now... I agree it has downside potential as my bias on DXY is bearish, so it does have the power to drop!
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Claty123 JordanWillson
@JordanWillson, Yeah i agree, i think we need negative data from the US today, long term stance on this is still bearish
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@Claty123, I think it could be a mix of negative + positive but overall the sentiment is bearish. So as long as stops are covered and don't get hunted out should be good to go down to 108.800 area and retest structure
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Claty123 JordanWillson
@JordanWillson, potential to 106.4? what do you think? that's where my TP is anyway
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@Claty123, if 108.800 breaks I would be looking at 106.00 as next structure zone for sure!
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