Possible short opportunity for USDJPY
Updated
I am looking to enter the USDJPY pair with a short position as i believe that the trend line will be respected. TP will be at identified support on 4H timeframe
Note
Take profit target has been successfully reached. Next i will look at price action at this area to guide my next trade. Ideally, i will be looking for a short opportunity if UJ can break out of current 107.087 support and sell on pull back. This will be a safer trade as it is in line with the longer term bearish trend. On a riskier side, if prices break through the descending trendline, i will buy with a small position to catch a scalping trade.
For now, let us see what happens
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