USD/JPY Downtrend below D H3

2 min read
tarantula fx

tarantula fx

Head of Trading

The USD/JPY has been consolidating between D H1 and D L1. the price is making bearish zig-zags so we might see a rejection from the POC 112.05-15 towards W L1.

Break below 111.90 is needed and the price should progress towards 111.55 and 111.30. However, have in mind that staying below 112.45 is optimal for bears because above 112.45 the price might get a bullish momentum and the bear strength will fade. It is Monday today so the price might be a bit slow so watch out (if you are in profit) for 111.90, 111.50 and 111.30. Profit stops are suggested too.

USD/JPY H1 chart

 

.

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of