MEX_Exchange
Short

USDJPY right below major resistance, time to sell!

FX:USDJPY   US-Dollar / Japanischer Yen
Sell below 113.10. Stop loss at 113.50. Take profit at 112.08.
Reason for the trading strategy (technically):
Price is now testing major resistance at 113.10 ( Fibonacci retracement , Multiple Fibonacci extension , horizontal overlap resistance) and we expect to see a strong reaction from this level to drive price down to at least 112.08 support ( Fibonacci extension , horizontal swing low support, Fibonacci retracement ).
Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding reaction from.
Hello, Can we get out of it manually or it will get down? Do you see this cross 114?
Antworten
Hi Mex,
what would be happened if it breaks 113.10 ?
+4 Antworten
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