USDJPY short setup: intermediate term play
Jen is showing signs of strength, while the dollar is topping, displaying climactic action in multiple pairs.
The technicals suggest a decline is in order, and I'd be looking for an entry short on a breach of the highest daily low of the past week.
Options expiration levels revolve around price action as we see the ranging pair bounce off them, containing price action inside a tight corridor.
The weekly chart implies a strong decline is possible, lasting for at least 5 weeks.
The rgmov indicator, from Tim West's suite shows a breach of a trend channel, and rejection at previous support, very bearish signal. It tends to lead price action when coming out of a consolidation, really useful tool.
The technicals suggest a decline is in order, and I'd be looking for an entry short on a breach of the highest daily low of the past week.
Options expiration levels revolve around price action as we see the ranging pair bounce off them, containing price action inside a tight corridor.
The weekly chart implies a strong decline is possible, lasting for at least 5 weeks.
The rgmov indicator, from Tim West's suite shows a breach of a trend channel, and rejection at previous support, very bearish signal. It tends to lead price action when coming out of a consolidation, really useful tool.
🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.