After considerable Yen weakness, xxxJPY pairs rose hundreds of pips. It seems like too unsustained of a move to me, so when such a strong short setup appears as shown above, It seems a very good opportunity.
Price reached a significant horizontal resistance zone
Price has made contact with the resistance trendline and shown a spinning top (inverted hammer?) candle, followed by a bearish confirmation to short.
This is as good as it gets, and even the indicator is in the upper band, indicating an exhaustion.
Price reached a significant horizontal resistance zone
Price has made contact with the resistance trendline and shown a spinning top (inverted hammer?) candle, followed by a bearish confirmation to short.
This is as good as it gets, and even the indicator is in the upper band, indicating an exhaustion.
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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.