On this analysis i'm looking to short USDJPY. After earlier today the pair broke a previous level of 107.000, Looking for the Fib level around 618. At this level will hopefully see the market slowing down. As previous support becomes resistance.
This should also fall in line with the hour Bearish trend and Price rejecting the 50EMA, which is currently living below the 200EMA.
Always use correct RR (this is just my idea) Please leave any feedback.
FINGERS CROSSED
This should also fall in line with the hour Bearish trend and Price rejecting the 50EMA, which is currently living below the 200EMA.
Always use correct RR (this is just my idea) Please leave any feedback.
FINGERS CROSSED
Trade active:
Price didn't quite reach 618. I entered as is broke and closed below the 50 level. Trade running.
Trade management in effect.
Trade management in effect.