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DanJB_Fx

USD/JPY Potential Short Opportunity - 4 R/R

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
DanJB_Fx Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USD USDJPY macdivergence Fibonacci Retracement Trend Line Break shortsetup short daytrade
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trendanalysis chartpattern indicator usd usdjpy macdivergence fibonacciretracement trendlinebreak shortsetup short daytrade
A slight pull back to 108.6 area will give a potential:
  • 38.2 retracement
  • rejection of previous lower time frame descending trend
  • rejection of higher timeframe support/resistance.

Good R/R comes from targeting previous strong higher timeframe support/resistance
Trade active:
Trade entered using 5 min entry at 108.628
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