Utilize Sell Scenario as USD/JPY Tests Supply Area
Sell positions are entered upon the formation of a valid Daily rejection and H4 confirmation when testing the supply area at 156.06-157.98.
This sell entry opportunity will capitalize on the potential weakening of prices when testing the supply area at 156.06-157.98. For further clarity, please refer to the explanation below.
USD/JPY Daily
Level: Supply 156.06-157.98
On the Daily chart, there is a potential sell area at the supply area of 156.06-157.98. Sell positions await the price to test the supply area and form a valid rejection, such as a bearish engulfing or pin bar candlestick pattern (with a long upper shadow).
USD/JPY Entry Opportunity
From the description above, it can be concluded for the entry opportunity with the following plan:
Position: Sell
Level: Supply 156.06-157.98
Signal: Daily Rejection then H4 candlestick confirmation
Attention:
May this analysis assist readers in observing price movements and making transaction decisions.
This sell entry opportunity will capitalize on the potential weakening of prices when testing the supply area at 156.06-157.98. For further clarity, please refer to the explanation below.
USD/JPY Daily
Level: Supply 156.06-157.98
On the Daily chart, there is a potential sell area at the supply area of 156.06-157.98. Sell positions await the price to test the supply area and form a valid rejection, such as a bearish engulfing or pin bar candlestick pattern (with a long upper shadow).
USD/JPY Entry Opportunity
From the description above, it can be concluded for the entry opportunity with the following plan:
Position: Sell
Level: Supply 156.06-157.98
Signal: Daily Rejection then H4 candlestick confirmation
Attention:
- Enter only when confirmation has been formed.
- Always employ good money management (1-2% risk per transaction).
- If the sell position has been taken and the price has not yet reached SL or TP, close the position as soon as possible (emergency exit) if the price forms a candlestick reversal pattern (bullish engulfing, pin bar with a long lower shadow, or bullish inside bar) on the Daily timeframe.
May this analysis assist readers in observing price movements and making transaction decisions.
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.