USDJPY back down
USDJPY is in a daily downtrend channel since april 2020. Recently the price touched the
bottom of the channel and shoot right back up to the top of the channel. This is just a
simple trend analysis for daily trend continuation. It will not be unlikely that we see
a head and shoulder formation being formed on H1 before heading back down.
Excellent R:R ratio.
I already took short position at the top of the channel and my take profit
is again the bottom of the channel.
Comments are welcome.
bottom of the channel and shoot right back up to the top of the channel. This is just a
simple trend analysis for daily trend continuation. It will not be unlikely that we see
a head and shoulder formation being formed on H1 before heading back down.
Excellent R:R ratio.
I already took short position at the top of the channel and my take profit
is again the bottom of the channel.
Comments are welcome.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.