USDJPY is trading at supply zone at all important time frames which is High Resistance Level.
At 4hr and 1D Double top pattern has been formed which is extremely bearish in nature.
A range has been formed in 1HR time frame.
Looking for breakdown of that range that I have marked in Rectangle. As range breaks, with confirmation of volume and candle, I will enter the trade with stop loss at Resistance i.e high of Rectangle.
With breaks upside then wait for price action to form. No buy trade in USDJPY.
ENTRY=138.33
TARGET=136.34
SL=138.90
COMMENT BELOW YOUR IDEA
GIVE A LIKE IF YOU AGREE WITH MY SETUP
At 4hr and 1D Double top pattern has been formed which is extremely bearish in nature.
A range has been formed in 1HR time frame.
Looking for breakdown of that range that I have marked in Rectangle. As range breaks, with confirmation of volume and candle, I will enter the trade with stop loss at Resistance i.e high of Rectangle.
With breaks upside then wait for price action to form. No buy trade in USDJPY.
ENTRY=138.33
TARGET=136.34
SL=138.90
COMMENT BELOW YOUR IDEA
GIVE A LIKE IF YOU AGREE WITH MY SETUP