Forex

USD/JPY Downtrend below D H3

November 20, 2017

2 min read

tarantula fx

Head of Trading

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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.

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