USD/JPY - Very good shorting opportunity
Ok, let's break it down and explain what's going on and what confluences we have.
- UJ Has been in a range bound fashion for a while now, but the key piece of information is the LL it created at 111.001 with gives us a rough estimate of the direction in which UJ Might go, (Bearish)
- We had a 4H trend breakout showing even more bearish intention.
- We are now at the key level 112.200 a break of this zone will indicate bears have full control over the UJ Pair only supply stopping UJ from falling.
- Clearly see 618 Fib level acting as a Range high, while holding at 4H resistance (112.715)
So all in all, what we are looking for is a breakout to the downside a clear close below then we take a short position
As always good luck, :D like , Follow sending out more of these opportunities
- UJ Has been in a range bound fashion for a while now, but the key piece of information is the LL it created at 111.001 with gives us a rough estimate of the direction in which UJ Might go, (Bearish)
- We had a 4H trend breakout showing even more bearish intention.
- We are now at the key level 112.200 a break of this zone will indicate bears have full control over the UJ Pair only supply stopping UJ from falling.
- Clearly see 618 Fib level acting as a Range high, while holding at 4H resistance (112.715)
So all in all, what we are looking for is a breakout to the downside a clear close below then we take a short position
As always good luck, :D like , Follow sending out more of these opportunities
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