#USDJPY catching a falling knife here
Updated
Hello all,
After selling this pair for so many days and weeks, the price is still holding firm above 110. This made us believe the price wants to retest the top or at least make a serious retracement for another decent leg down.
According to us this pair is a steep downtrend channel, within we can see a falling wedge. Breaking up this wedge is a confirmation for safe traders. If you don't mind taking risk, longing here could pay off for you, with the given SL.
Good luck!
After selling this pair for so many days and weeks, the price is still holding firm above 110. This made us believe the price wants to retest the top or at least make a serious retracement for another decent leg down.
According to us this pair is a steep downtrend channel, within we can see a falling wedge. Breaking up this wedge is a confirmation for safe traders. If you don't mind taking risk, longing here could pay off for you, with the given SL.
Good luck!
Note
We are in the money so far, put the SL at break even to protect your wealth.Trade closed: target reached
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