USDJPY: Decider level for buy or sell. Trade accordingly.
The USDJPY pair is testing the 1D MA200 with 1D technicals overbought (RSI = 69.263, MACD = 1.310, ADX = 58.730). Unless the price crosses above the R1 (138.215), the current level is the ideal sell entry. TP1 = 133.700 (above the 1D MA50) and if the price closes under the 1D MA50 then TP2 = 128.000 (above the S1).
The Death Cross is supporting the idea of a long term downtrend, however if the price closes above the R1 it makes a Higher High and invalidates this. In that case buy (TP = 142.000, under R2).
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The Death Cross is supporting the idea of a long term downtrend, however if the price closes above the R1 it makes a Higher High and invalidates this. In that case buy (TP = 142.000, under R2).
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## Comments and likes are greatly appreciated. ##
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