Overall USDJPY set up for a trend trading setup. 106.74 is an important resistance level for trend traders to observe for a shorting opportunity.
105.28 to 104.79 presents itself as a buying opportunity for counter-trend traders.
If market head up to 106.74 before retracing, I will wait for candle confirmation to short as a trend trading trade, however, if the market retraces into the buy zone 105.28-104.79 before hitting the resistance level, I might head in on the counter-trend trade to long.
105.28 to 104.79 presents itself as a buying opportunity for counter-trend traders.
If market head up to 106.74 before retracing, I will wait for candle confirmation to short as a trend trading trade, however, if the market retraces into the buy zone 105.28-104.79 before hitting the resistance level, I might head in on the counter-trend trade to long.
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🕒 15mins workday for Young Parents
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
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🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
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.