USDJPY - RSI Divergence

USDJPY has a Bearish RSI Divergence when it is forming it's ascending triangle. We have headed in for a shorting opportunity instead of a buying opportunity as President Donald Trump said there won't be a smooth handover.

On trade management, we will observe closely if the 1-hourly candle can break and close below the trendline, failure to do so, we might exit the trade in advance.

Based on the daily chart, it is a trend trading trade but on the 1-hourly chart, it is considered as a counter-trend trade.

Trade active

SLE: 105.45(+2)

As mentioned, the candle has now reached the trendline with 18pips of running profit, if it manages to break and close below the trendline it brings us 1 step closer to our target, failure to do so, you can decide if you like to manual close the trade, but at least shift stops to entry, risk-free trade attained.

Trade closed manually

Manual Exit: 105.37(+10)
USDJPY lose momentum in falling, will exit and observe.

RaynLim

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RaynLim

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