On
USDJPY
, the market is bearish and trending downtrend on 1H bars. The price makes Lower Highs and Lower Lows last few days. So, why not follow these moves. There is a key zone at 123.00. It was acted as support and became resistance. Also, 123.00 is considered psychological level too, because of 00. Institutional traders and big players give that significance.
There is a valid bat pattern, which gives exact guidance for entering the market. Stop loss should be place above key zone. Take profit: T1- 38.2% T2 - 61.8%
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USDJPY
, the market is bearish and trending downtrend on 1H bars. The price makes Lower Highs and Lower Lows last few days. So, why not follow these moves. There is a key zone at 123.00. It was acted as support and became resistance. Also, 123.00 is considered psychological level too, because of 00. Institutional traders and big players give that significance. There is a valid bat pattern, which gives exact guidance for entering the market. Stop loss should be place above key zone. Take profit: T1- 38.2% T2 - 61.8%
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TOP 10 Forex Broker: www.best10forex.com
TOP 10 Binary Options Brokers: www.binaryreviewed.com
