USDJPY (WEEKLY) - DOWNTREND STILL INTACT (3)
Price has risen and faces resistance from Warning Line as forecast.
Aggressive trade can sell short upon market open. For a more conservative trade, wait for a confirmation lower close before entering with a sell.
Stop loss can be placed above recent high of 112.717. First possible take profit level at 110.99 followed by about 110.30.
Upside risk: If Warning Line is breached, expecting price to go to (Blue)Upper Median Line.
Aggressive trade can sell short upon market open. For a more conservative trade, wait for a confirmation lower close before entering with a sell.
Stop loss can be placed above recent high of 112.717. First possible take profit level at 110.99 followed by about 110.30.
Upside risk: If Warning Line is breached, expecting price to go to (Blue)Upper Median Line.
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