USD/JPY Bearish Setup: Anticipating Rejection at Resistance
Hello traders! Today, I’m taking a closer look at the USD/JPY pair on the 1-hour time frame, where I’m anticipating a potential bearish move.
Here’s my plan:
Resistance Level: a key zone where it has previously reversed. If the price tests this level again, I’ll be watching for a potential rejection.
Reversal Signals: I’ll be paying close attention to bearish candlestick patterns, such as shooting stars or bearish engulfing patterns, to confirm that the resistance is holding and selling pressure is building.
Momentum Check: I’ll also monitor the overall market momentum. If the upward movement starts losing steam near the resistance, this could be an early sign of a potential reversal.
Risk Management Strategy: To manage my risk, I’ll place a stop loss slightly above the resistance level, protecting against a potential breakout.
Here’s my plan:
Resistance Level: a key zone where it has previously reversed. If the price tests this level again, I’ll be watching for a potential rejection.
Reversal Signals: I’ll be paying close attention to bearish candlestick patterns, such as shooting stars or bearish engulfing patterns, to confirm that the resistance is holding and selling pressure is building.
Momentum Check: I’ll also monitor the overall market momentum. If the upward movement starts losing steam near the resistance, this could be an early sign of a potential reversal.
Risk Management Strategy: To manage my risk, I’ll place a stop loss slightly above the resistance level, protecting against a potential breakout.
WiVERIDERS
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
WiVERIDERS
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.