USD/JPY Short Setup

FX:USDJPY   U.S. Dollar / Japanese Yen
This pair has entered the consolidation zone once again after failing to match the previous high. The head and shoulders pattern is 95% complete as price is looking to retest the neckline once again and a break of this would be further confirmation that USD/JPY would melt taking out the monthly support and beyond. On the daily timeframe the recent bullish move stalled around the 38.2 fibonacci level, which illustrates that this bear market trend is strong and will continue now that this retracement seems to be over. The only obstacle on the way is the monthly support of 112.02, which one taken out, we can expect to see price to go lower towards 111.00.
Trade closed: stop reached: Stop was too tight and got taken out before the melting to the downside the following day
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out