Usd/Jpy - Retracement within the bigger picture.

27 janv.

Usd/Jpy - 2H Chart.

Price have been bearish since we saw a false break on the 10th of January this year.
Price as of writing this is down -1.85% and the orderflow so far has been dominated with selling pressure.

Price have also had 6 touches to the upper trendline and i think a move down to the projected lower channel trendline could occur. That is the target for this idea.
The parallel projection is a cloned trendline placed on the lowest low in the range of this pattern.

Idea is to sell a retracement if i can materialise, limitorder is set for the 61.8% of the recent leg.
I will cancel order if we print a new low without a fill.

29 janv.

Trade fermée manuellement

Dot like this price action. Closing the trade at break even and will continue to monitor.