I think we finally can mark this top area as a massive resistance point for USDJPY as this is it's 2nd go around of a peak and seems to be a free fall. Massive areas of volume have been respected as long as possible but seems like a potential breakdown can occur with little to no air coverage. Could see the gas leaving the rocket ship as soon as it entered the resistance zone. Took a short trade based on RSI and the previous resistance point being respected. Target 100 PIPS with 1:1
My numbers:
Entry: 144.404
Take Profit: 143.457
Stop Loss: 145.417
Currently in profit so moved my STOP LOSS to HALF of current profit. Sitting at 144.170
My numbers:
Entry: 144.404
Take Profit: 143.457
Stop Loss: 145.417
Currently in profit so moved my STOP LOSS to HALF of current profit. Sitting at 144.170
Trade active
Trade closed: target reached:
🎯 WINNER WINNER