Fellow traders,
As you can see USDJPY has reached to 112.000 handle which has acted as a key level of support and resistance on a number of occasion in the past.
While RSI is also seriously overbought situation and JPY is expected to be strengthen over the coming week. Added bonus we have a perfect reversing signal sitting on top of the chart.
I have gone short on this pair and marked the tp1 and sl for you as well. Will be managing positions once it reaches tp1.
I would love to know your thoughts on this.
Trade safe and enjoy the weekend.
As you can see USDJPY has reached to 112.000 handle which has acted as a key level of support and resistance on a number of occasion in the past.
While RSI is also seriously overbought situation and JPY is expected to be strengthen over the coming week. Added bonus we have a perfect reversing signal sitting on top of the chart.
I have gone short on this pair and marked the tp1 and sl for you as well. Will be managing positions once it reaches tp1.
I would love to know your thoughts on this.
Trade safe and enjoy the weekend.
Trade closed: target reached