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4xbullion

SHORT USDJPY @ 116

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
4xbullion  
FX:USDJPY   U.S. Dollar / Japanese Yen
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The pair has bearish divergence in RSI and 161.8 fib extension of previous leg at around 116 levels which had been tested earlier during the Asian session. The pair might again move in the 116 territory and will face tough resistance. Failure to close above 116.20 on 4 hourly timeframe will be a strong short signal.
The target for this trade is around 110.70-110.10

Trade Type: Trend Reversal
Price: 116.00
Target: 110.70
Stops: 110.70
R/R Ratio: 4.4
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