USDJPY in the area of 50% Fib retracement, from January's highs and @ 61.8% from Aprils highs - could be a good place to enter short trade. we do have break of trend line but luck of real volume or rather low volume suggest that buyers are not interested in buying at this level - more likely profit taking. RSI overbought, pair in strong resistance area.
Would be care full before tomorrows BOJ Kuroda speech and NFP - enter trade maybe after NFP incase we get spike above 103.
Trade has got good RR ratio - for more conservative approach SL somewhere above 104.50, for more aggressive RR ratio SL somewhere around 103.50
Good luck!
Would be care full before tomorrows BOJ Kuroda speech and NFP - enter trade maybe after NFP incase we get spike above 103.
Trade has got good RR ratio - for more conservative approach SL somewhere above 104.50, for more aggressive RR ratio SL somewhere around 103.50
Good luck!