WHY SELL USDJPY??? Trading the rising channel

hey guys,

though many traders sell usdjpy following bearish breakout of a narrow trading range
where the pair was trading for more than one week,
I have the opposite view.
looking left we see that we have a lower support 111.7 level.

+ taking into consideration a rising channel,
the market has respected its support line and still trading inside.

SELL USDJPY ONLY AFTER BEARISH BREAKOUT OF A CHANNEL.

for now sentiment is still bullish and the market has space to go higher,
no need to rush and follow talking heads,
be patient and wait for a confirmation!

same logic with buying:
yes looking left we are standing on significant structure resistance.
so let the market break this resistance and then buy!

Commentaire:

Trading inside the trading range

Commentaire:

Bulls come into play