USDJPY - Short Trade Idea

30 sept. 2024

This is a short trade idea on the USDJPY pair.

Recently, we traded into a 4M and 11M BISI, had a nice reaction to a Premium Array, now we had a breakdown again. Because of the Japanese Central Bank's decision to increase interest rates, I am expecting price to take a further nose dive. I have 2 targets based on my profit-taking criteria. 1st is the swing low as a Discount Array, and 2nd/final target is a 2D BISI below some relative equal lows.

Depending on where price closes today, I would be anticipating price to trade back up into a 2D iFVG that was a previous R2F signature BISI on the 2D timeframe. Safest stoploss before invalidating the trade is at the swing high before the sudden dump at Japan election news.

Let's see!

- R2F

1 oct. 2024

Note

The 2D candle closed way above the potential iFVG, so this trade is invalidated. We may be trading a decent amount higher into weekly/monthly SIBIS.