USDJPY: Your Detailed Trading Plan 🇺🇸🇯🇵
Hey traders,
USDJPY is trading in a bearish trend on a daily.
After the price set a new low 20th of December, the market started a correctional movement.
The pair is currently approaching a solid confluence zone based on fib retracement levels, a trend line and a horizontal structure.
To short the underlined area with a confirmation, watch a rising channel on 4H.
Its support breakout (4h candle close below) will be a trigger for you to short.
Initial target will be 132.7
Alternatively, a bullish breakout of the trend line will push the market higher.
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