Price has rejected a key resistance zone around 194.30–194.50 after failing to break above. I’m looking for a short setup here, expecting price to respect this supply zone and move lower.
The 4H structure shows repeated rejection wicks and a break of minor trendline support. Entry is based on clean bearish structure with confluence from horizontal resistance and dynamic EMAs curling over.
Trade Setup:
• Bias: Short
• Entry: 194.25–194.35 (confirmed rejection)
• Stop: Above 194.70
• Target: 193.00 / 191.60
• R:R: Around 2–3R
This trade aligns with overall corrective market structure and potential yen strength. Will monitor price action during London/NY sessions for confirmation.
The 4H structure shows repeated rejection wicks and a break of minor trendline support. Entry is based on clean bearish structure with confluence from horizontal resistance and dynamic EMAs curling over.
Trade Setup:
• Bias: Short
• Entry: 194.25–194.35 (confirmed rejection)
• Stop: Above 194.70
• Target: 193.00 / 191.60
• R:R: Around 2–3R
This trade aligns with overall corrective market structure and potential yen strength. Will monitor price action during London/NY sessions for confirmation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.