USDJPY can be bearish.
USDJPY had a strong bearish trend it can continue this.
we can see the lower heights clear its reveal that the bearish trend is still powerful.
also on the daily time frame, we can see the sings of the power of the bearish trend.
its broken the trend line whit a strong candle. and i think this trend can have an other leg.
when i will open a sell position? when in 1H time frame the H1 resistance was broken and a candle closed under it. but if you want be more sure you can open position after the daily resistance was broken.
where is my target? my target is the Next daily TF resistance. but i will make position risk free when its reach the R/R one. also if i saw the sings of reversal of the trend i will close the sell position.
where is my stop loss ? my stop loss will be above the last height in 1H time frame.
when will this scenario be canceled ? when the USDJPY broken up the trend line matched the lower heights together.
Tip : consider the news about JPY interest rate.
its just my personal comment please don't trade whit this.
thanks for your attention.
we can see the lower heights clear its reveal that the bearish trend is still powerful.
also on the daily time frame, we can see the sings of the power of the bearish trend.
its broken the trend line whit a strong candle. and i think this trend can have an other leg.
when i will open a sell position? when in 1H time frame the H1 resistance was broken and a candle closed under it. but if you want be more sure you can open position after the daily resistance was broken.
where is my target? my target is the Next daily TF resistance. but i will make position risk free when its reach the R/R one. also if i saw the sings of reversal of the trend i will close the sell position.
where is my stop loss ? my stop loss will be above the last height in 1H time frame.
when will this scenario be canceled ? when the USDJPY broken up the trend line matched the lower heights together.
Tip : consider the news about JPY interest rate.
its just my personal comment please don't trade whit this.
thanks for your attention.
Note
this idea was running well, until dollars CPI news was published. and it's strengthened dollar.
i still on my idea, but if USDJPY broken the trend line i drew. i would close my position.
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