I've tried to put as much useful information as possible on the chart.
Not only showing the trade, but also the story leading up to the trade.
The shorting zone is our key factor here. This is were price reacts to and from. After breaking this zone, it acts as a very strong support. This in combination with the new longing trendline and the fact that price has...
USDJPY has a monthly, strong trendline - which is moving down (green trendline on the chart).
There's a weekly uptrend, supported by 2 trendlines - hitting both the monthly trendline, inside a monthly s&r zone.
These are weighing heavily on the trend and is likely to break at least 1, maybe both weekly trendlines. A smaller, weaker trendline is already being...