UsdJpy Trade Idea
Updated
With UJ coming back underneath a resistance level from a previous range I decided to short the pair for a 1:3rr. We had a clean bearish flip once price came above the resistance with price failing to continue bullish structures. USD had news at 8:30 but bearish structures still held. If all goes well we could expect price to tap back into the support range around 152. Just around 152 is a weekly level of resistance that has been respected multiple times so having targets around that level would be ideal.
Trade closed: stop reached
Price decided to range. Longs to resistance are possible depending on the RR.
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