U.S. Dollar / Japanese YenUpdated USDJPY: Another Potential Trade
In addition to the AUDNZD pair, this is another pair that i am watching closely for a final short signal on the lower time frames.
A good rejection of key horizontal resistance. Fisher indicator is deep in overbought area.
103.68-103.50 may act as a near term support for now, and could push for another attempt higher, where if new rejection is seen i will be shorting.
Alternatively, if we head and break and hold below 103.68-103.50 without any bounce, it will probably suggest strong bearish momentum and higher probability of further downside.
If i don't get the confirmation i need, this setup will be totally ignored.
Lets see, i will monitoring and will do my best to keep you guys updates with my action on this.
Trade with care
Best
Technician
A good rejection of key horizontal resistance. Fisher indicator is deep in overbought area.
103.68-103.50 may act as a near term support for now, and could push for another attempt higher, where if new rejection is seen i will be shorting.
Alternatively, if we head and break and hold below 103.68-103.50 without any bounce, it will probably suggest strong bearish momentum and higher probability of further downside.
If i don't get the confirmation i need, this setup will be totally ignored.
Lets see, i will monitoring and will do my best to keep you guys updates with my action on this.
Trade with care
Best
Technician
Note
CORRECTION: 113 NOT 103
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