The USDJPY pair has recently broken below a key support level. This area could potentially act as resistance, presenting a classic break-and-retest scenario.
A bearish confirmation, such as rejection wicks, bearish engulfing candles, or strong selling pressure, would validate the potential for a short setup. If sellers step in at this level, the next downside target could be the 154.537 zone.
Traders should monitor the retest closely for clear signs of rejection before committing to short positions.
A bearish confirmation, such as rejection wicks, bearish engulfing candles, or strong selling pressure, would validate the potential for a short setup. If sellers step in at this level, the next downside target could be the 154.537 zone.
Traders should monitor the retest closely for clear signs of rejection before committing to short positions.
Trade active
Note
It was close to tp, but I need a deeper pullback. We will see.Trade closed: target reached
Take Profit Reached
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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.