Daily USDJPY - Looking for entry for short
115.769 area is showing signs of support as price has rallied off it twice.
There seems to be signs of either a rectangle happening with support at the same level or a bear channel developing (shown by the colours orange and red).
The next few days should either show a rejection from the bear channel top suggesting that price will continue a bear trend. Otherwise, price should break through the bearish channel and make its way to the "big resistance" - Failure to break and close beyond the "big resistance" will be a triple top and is a clear indication for shorting.
Once technicals are aligned I will confirm action with 3 MA (4,9,18) on hourly charts for optimal entry within the high price areas with a target at 110 with stops either above channel or resistance.
There seems to be signs of either a rectangle happening with support at the same level or a bear channel developing (shown by the colours orange and red).
The next few days should either show a rejection from the bear channel top suggesting that price will continue a bear trend. Otherwise, price should break through the bearish channel and make its way to the "big resistance" - Failure to break and close beyond the "big resistance" will be a triple top and is a clear indication for shorting.
Once technicals are aligned I will confirm action with 3 MA (4,9,18) on hourly charts for optimal entry within the high price areas with a target at 110 with stops either above channel or resistance.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.