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TheForexFarmers

USDJPY...Short on the 4H TF

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
TheForexFarmers  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY usdjpyshort
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trendanalysis chartpattern indicator usdjpy usdjpyshort
After the news last night, we saw a major sell of the USD. Our system triggered a sell entry early this morning (during the Asian session), which seems to be valid from a technical point of view. Since it did break the support level of We 108.935, and closed below it. That indicates a further movement to the downside, to the next support: 108.381. We opened our position with TP: 106.929, and SL: 109.890.

Levels to watch for on the 4H TF:

S1: 108.381
S2: 107.898
S3: 106.912

Trade Safely!
The Forex Farmers.
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