USDJPY TRADE IDEA - SHORT
WEEKLY BEARISH, DAILY BEARISH, 4HR BEARISH
Structurally, price action is bearish on all major timeframes.
For me all of this price action to the upside was just a technical rebound to a daily level where sellers are willing to enter short for the trend continuation of the higher timeframes.
Daily formed a beautiful bearish engulfing at AOI around psychological level 147.500.
During New York we broke below this AOI with a beautiful H2 and H4 Bearish Engulfing candle, with a lot of momentum.
Considering the magnitude of the move overall, I believe this trend is going to continue for some time.
https://www.tradingview.com/x/Mqyq30lO/
Structurally, price action is bearish on all major timeframes.
For me all of this price action to the upside was just a technical rebound to a daily level where sellers are willing to enter short for the trend continuation of the higher timeframes.
Daily formed a beautiful bearish engulfing at AOI around psychological level 147.500.
During New York we broke below this AOI with a beautiful H2 and H4 Bearish Engulfing candle, with a lot of momentum.
Considering the magnitude of the move overall, I believe this trend is going to continue for some time.
https://www.tradingview.com/x/Mqyq30lO/
Trade closed: stop reached
Unfortunately, we got stopped out. My bias still remains short for this pair.
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