USDJPY: Intraday Short Selling Opportunity
-INTRODUCTION-
From our previous USDJPY analysis, we have spotted a wide head and shoulder pattern in the 4-hour chart. Yesterday, the price has arrived at the neckline support level of the head and shoulder pattern. In the 15-minute chart, we can see the price has retraced after reaching the neckline, forming a rising wedge channel.
-TRADING PLAN-
The price is retracing nicely, breaking the first resistance level of 128.00. Therefore, we expect the price to keep rising to the next resistance level of 124.40 ~ 124.60. From that area, we will observe for a consolidation pattern and a breakout from the rising wedge channel. After a breakout, we will prepare our sell entries first targeting the neckline support area
Check out our previous swing sell roadmap for JPY pairs below :)
From our previous USDJPY analysis, we have spotted a wide head and shoulder pattern in the 4-hour chart. Yesterday, the price has arrived at the neckline support level of the head and shoulder pattern. In the 15-minute chart, we can see the price has retraced after reaching the neckline, forming a rising wedge channel.
-TRADING PLAN-
The price is retracing nicely, breaking the first resistance level of 128.00. Therefore, we expect the price to keep rising to the next resistance level of 124.40 ~ 124.60. From that area, we will observe for a consolidation pattern and a breakout from the rising wedge channel. After a breakout, we will prepare our sell entries first targeting the neckline support area
Check out our previous swing sell roadmap for JPY pairs below :)
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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.
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.