USDJPY Crucial activity
I've been watching the pair recently and have noticed that we are in a zone where it is demonstrating crucial price action. It is ranging around the Summer Lows resistance and Mid Month support. Although it closed above the summer lows resistance it seemed to have opened below the price and have been within that range for the day.
A break below the Mid month support could send the pair back into its most recent bear trend.
Im planning on taking a low risk position
Enter @ (Close) 118.275
Stop @ Daily Trend Breakout (Green Arrows)
Target @ 117.387 (Last Weeks High)
A break below the Mid month support could send the pair back into its most recent bear trend.
Im planning on taking a low risk position
Enter @ (Close) 118.275
Stop @ Daily Trend Breakout (Green Arrows)
Target @ 117.387 (Last Weeks High)
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.