USDJPY reached a resistance line of a major falling wedge pattern on a daily.
Now it is a very decisional moment for the pair.
The reaction to the resistance will show the future direction of the market.
I still remain bearish biased and focused on a completed descending triangle formation.
104.14 is its support.
I want to see 1H candle close below that to confirm its breakout.
Then short trade can be initiated with initial goal 103.85.
In case of a daily candle close above the resistance line of the wedge,
setup will be invalid and bias will change to bullish.
Please, support this idea with like! thank you!
Trade closed: target reached
Check my new trade on AUDUSD!
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
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.