USD/JPY Short Setup – Dual Entry Strategy
Updated
I’m observing a bearish opportunity on USD/JPY, with a potential continuation of the downward trend. The pair recently broke below significant support levels and is trading below the 200 SMA on the 4H chart, confirming bearish momentum.
Key Analysis – Dual Entry Strategy:
- Conservative Entry: Around 151.89, a key resistance zone aligned with previous price reactions, ideal for risk-averse traders;
- Aggressive Entry: Around 150.74, closer to the broken support level, targeting a weaker pullback before the continuation of the downtrend.
Important Entry Condition:
The price must reject these resistance levels before entering. Look for a strong bearish close on either the 4H or 1H timeframe below the respective resistance levels to confirm entry.
Trade Parameters:
- Stop-Loss: Just above 152.00.
- Take-Profit: Primary Target: 148.15 (major portion of the position). Extended Target: 146.50 (held for 10-15% of the position for potential continuation).
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Key Analysis – Dual Entry Strategy:
- Conservative Entry: Around 151.89, a key resistance zone aligned with previous price reactions, ideal for risk-averse traders;
- Aggressive Entry: Around 150.74, closer to the broken support level, targeting a weaker pullback before the continuation of the downtrend.
Important Entry Condition:
The price must reject these resistance levels before entering. Look for a strong bearish close on either the 4H or 1H timeframe below the respective resistance levels to confirm entry.
Trade Parameters:
- Stop-Loss: Just above 152.00.
- Take-Profit: Primary Target: 148.15 (major portion of the position). Extended Target: 146.50 (held for 10-15% of the position for potential continuation).
If you follow me, you will receive the updates to this idea.
Note
Enter now short at 150.56.Trade closed: target reached
I decide to take ALL profit USDJPY due to unfavourable price action and NFP. Price 150.10.
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