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khawar_mughal

USDJPY 31 March 2023

U.S. Dollar / Japanese Yen (FX:USDJPY)  
khawar_mughal  
FX:USDJPY   U.S. Dollar / Japanese Yen
Support and Resistance Double Top or Bottom Flag usdjpyanalysis usdjpysignal usdjpyshort usdjpylong
3
0
supportandresistance doubletoporbottom flagpattern usdjpyanalysis usdjpysignal usdjpyshort usdjpylong
Analysis:
Bullish Flag possible continuation pattern
but on RSI we can see bearish Divergence
so this can reversal pattern (DOUBLE TOP).
So we can have two trade plans one bullish
and one bearish we will pick trades by the
help of BUY/SELL stop

Trade Plan (Bullish Setup/Bullish Flag)
Entry (Buy stop) 133.064
Stop loss 132.158
Target 1 133.970
Target 2 134.840

Trade Plan (Bearish Setup/Double Top)
Entry (Sell Stop) 132.158
Stop loss 133.064
Target 1 131.277
Target 2 130.357

NOTE: stoploss 2% or 5% risk of the capital.
Adjust your lot sizes according to your account
size
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