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Nathanp7

USDJPY Pattern and Zone trading

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Nathanp7  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis USDJPY Ascending Channel zonetozone breakout heandandshoulders
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trendanalysis usdjpy ascendingchannel zonetozone breakout heandandshoulders
There is an ascending channel and appears to be a breakout and retest of the trend line and looks likely that price will continue to the downside.
I will be aiming to take a position short on this.

- Wait for a 4hr candle close below the resistance zone .
- Wait for a pullback and a retest of this zone.
- Wait for a rejection on the 1 hour or 30 min chart.
- Wait for price confirmation either an engulfing bar or pinbar .
- Sell

Let me know your thoughts or any other ideas

Thanks

Nath
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