U.S. Dollar / Japanese Yen

Short

signal to sell overbought pair

By VasilyTrader

Updated

snapshot

hey traders,

I am still looking for signals to sell very overbought market on dollar yen.

on 4h chart RSI is heavily overbought.

snapshot

now I am waiting for a bearish violation of a rising wedge pattern.
as you see the market is coiling around 111.1 level and we see rejection candles.

your target will be based on structure.

stop will be above the market high.

good luck!

Note

breakout

Note

hit the initial target

Note

attempt to go lower

Note

holding the position

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