This could be a start of a new downtrend
Analysing Forex from The Market side & perspective.
Hello traders, congrats for the profit. Today we analyse USDJPY. The market movement looks sideway on higher timeframes, we can see the price retrace at some price levels. Today, the market tends to go down and it forms lower low, this could be a start of a new downtrend. We have two positions from our last analysis BUY at 107.81 and SELL at 106.99. We also have two new positions at 107.56 when the market break resistance and go up, SELL at 107.20 if the market decides to start a downtrend, we can ride the trend earlier.
Hello traders, congrats for the profit. Today we analyse USDJPY. The market movement looks sideway on higher timeframes, we can see the price retrace at some price levels. Today, the market tends to go down and it forms lower low, this could be a start of a new downtrend. We have two positions from our last analysis BUY at 107.81 and SELL at 106.99. We also have two new positions at 107.56 when the market break resistance and go up, SELL at 107.20 if the market decides to start a downtrend, we can ride the trend earlier.
