Usdjpysellsetup
USDJPY Short Term Sell IdeaH4 - Bearish trend pattern followed by a potential correction.
Bearish divergence.
Until the two key resistance zones hold my short term view remains bearish here.
A valid breakout below the most recent uptrend line would be the validation for this short term bearish view.
USDJPY SHORTOriginal Analysis USDJPY
We open a Sell at 128.54
Broken out of the triangle formation to the downside
Negative overnight flows lead to an expectation of a weaker open this morning
Bespoke resistance is located at 128.54
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 128.54, resulting in improved risk/reward
Expect trading to remain mixed and volatile
Support Levels
127.73
Resistance Levels
128.69
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USD/JPY - Short sell We have the USD/JPY exchange rate is a clearly defined short sell channel.
The fundamentals driving a weaker dollar is the rest of the world recovering from the Pandemic in 2020 on the vaccine news, which means the U.S will no longer outgrow the rest of world economies as it did between 2018 - 2020.
We look at sell set ups with entry price, stop-loss price and one-month volatility analysis
USDJPY Bearish Potential SetupSalam and hi my name is Khalid Hamid. USD Index is showing a reversal, thus USD pairs might go down too (including USDJPY).
Early sign is there but still need to wait for a STRONG BREAKOUT signal to the downside.
Watch the video to understand. ;-)
Tomorrow is NFP and few other high impact data release so please be careful with your trades.
Good luck and happy trading everyone.
KHALID HAMID, Malaysia