OfficialJ23

UsdJpy Trade Idea

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
UJ is currently bearish with price crashing back below the weekly resistance (marked on chart in text). Since price crashed back below weekly resistance, higher time frames are showing a break of structure with 148.900 being the last HL. I’m personally waiting on price to pullback to 149.200 on smaller times before going short. The pullback to 149.2 would confirm the bearish continuation and support the higher time frame analysis. I also might just wait for price to crash after the retest hoping to see another lower high under the weekly resistance. That would just be even more confirmation for me to short for a possible 1:3-1:4rr. We’ll see what happens.
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