USDJPY Short Idea
This pair is bearish on all significant timeframes and we will continue to look for short opportunities with the trend.
Current price action is at our monthly zone at 106.000. How price action reacts here will determine where this pair goes next.
1.Price action continues with the overall trend and finds resistance at our monthly zone & 61.8% fib level. We will look to enter on strong bearish setups and will target lower toward our -27% fib level.
2.Price action breaks through our monthly resistance. Look for a confirmed higher low above the zone and enter on strong bullish setups.
I won’t consider real long opportunities until 107.400 is broken and confirmed because the overall trend is still very bearish until we see that transition.
This pair is bearish on all significant timeframes and we will continue to look for short opportunities with the trend.
Current price action is at our monthly zone at 106.000. How price action reacts here will determine where this pair goes next.
1.Price action continues with the overall trend and finds resistance at our monthly zone & 61.8% fib level. We will look to enter on strong bearish setups and will target lower toward our -27% fib level.
2.Price action breaks through our monthly resistance. Look for a confirmed higher low above the zone and enter on strong bullish setups.
I won’t consider real long opportunities until 107.400 is broken and confirmed because the overall trend is still very bearish until we see that transition.