Psalm01

USDJPY Breaks Support and Turns Bearish

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY has broken its weekly support and we can expect a decline in price. Thus, we can hope for a good opportunity to short. Price is currently retesting the broken support, and if we're lucky, this support might become the new resistance level. However, there will be a USD news release by 16:00 GMT, so traders are advised to watch out for that time. For technical analysts without experience in fundamental analysis, I'd advise closing your USD trades before 15:30 GMT. I'll be happy to know what you guys think. Supports and critics are welcome alike. Thanks!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.