USDJPY Short
Updated
USDJPY seems to be stablilizing at the top of this pitchfork and I will probably be taking a short to the centerline.H4 The RSI on the H4 does not look favorable right now and I'm waiting for it to flip overbought.
H1 There was a Bearish divergence on the RSI up until 15 Mar.
M30 The entry zone and a significant zone below is more clear on the M30 chart.
I'm considering placing a market pending entry at the lower zone. I would be sacrificing some potential profit but with a healthy stop loss I would mitigate significant risk.
GBPJPY
I'm moving my stop loss up on the swing trade I have open on GBPJPY . GBPJPY tends to correlate with USDJPY so I'll be protecting my profits wit GBPJPY and possibly opening a short here as well.
Order cancelled
I set a market pending last night in the lower zone but USDJPY moved up, saving me a lot of headache and loss. My GBPJPY trade is looking pretty good now.
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