retest of the low

hello traders,
want to share with you this nice selling opportunity on usdjpy.
as we contemplating bearish trend for couple of weeks, market now in consolidation stage before
bearish continuation and another wave down.
so I suggest you to look left and see that market just hit previous structure high in confluence with 0.5 fib zone of recent leg of a move.
also, look at rsi - it gives as true signal of divergence.
so I would sell out now setting my stop slightly above 0.5 fib.
target based on previous market low.
Let's see what will happen next.

Kommentar:

still holding short

Kommentar:

Holding position