USDJPY - Short Trade Idea
USDJPY - Short Idea
- Bearish: Downtrend
- Rejection of 4 Hour 50ema
- Double top formation
- Reversal out of Fibonacci Golden Pocket
- DXY - stalling at structure of 98.25
- Safe Haven currencies in demand due to Yield Curve Inversion
Price is very corrective and the Risk/Reward isn’t fantastic as you would need a large stop loss but it’s certainly a valid trade with multiple confluences.
Pay attention to the level of 105.65 which is acting as a fairly strong level of support.
Instagram: thetraveltrader (instagram.com/thetraveltrader)
Twitter: Fx_ollie (twitter.com/fx_ollie)
- Bearish: Downtrend
- Rejection of 4 Hour 50ema
- Double top formation
- Reversal out of Fibonacci Golden Pocket
- DXY - stalling at structure of 98.25
- Safe Haven currencies in demand due to Yield Curve Inversion
Price is very corrective and the Risk/Reward isn’t fantastic as you would need a large stop loss but it’s certainly a valid trade with multiple confluences.
Pay attention to the level of 105.65 which is acting as a fairly strong level of support.
Instagram: thetraveltrader (instagram.com/thetraveltrader)
Twitter: Fx_ollie (twitter.com/fx_ollie)
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