hey traders,
A local decisional moment for USDJPY:
the price is retesting a resistance line of a horizontal trading range.
From a current perspective there are two potential scenarios:
Bullish - in case of a bullish breakout of resistance of a range
I will expect bullish trend continuation to 109.8
Bearish - on hourly chart the market is slowing down.
After a strong growth from range's support, the market looks exhausted at the moment.
To catch a pullback from the underlined resistance, wait and sell bearish breakout of a rising parallel channel.
Goal - 109.05
Wait for a breakout & follow the market.
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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.