USDJPY is currently in a bearish trend. I am looking to enter the train on this trend and am planning to do so with the following:- Daily chart shows downtrend
- Previous high touched the 0.786 retracement and reversed
- RSI has been overbough
So now my plan is to wait for price to break previous support (which will then become resistance) and enter on the pullback. Take profit levels are decided to be at support levels. We'll wait to see how this plays out.
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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.