USDJPY has shown weakness throughout the Asia session.
It is breaking down from a double top created last week.
It has broken the LTF Bullish structure and is currently retesting it. This also coincides with a strong Key Level.
If history repeats, we could see a fast and furious drop back down to the support zone.
Just a disclaimer, I am not trading this. My EJ trade will benefit from this move if it happens but at the same time, I don't want to double the risk if it doesn't play out as I am expecting.
Trade Safe!
HEET
It is breaking down from a double top created last week.
It has broken the LTF Bullish structure and is currently retesting it. This also coincides with a strong Key Level.
If history repeats, we could see a fast and furious drop back down to the support zone.
Just a disclaimer, I am not trading this. My EJ trade will benefit from this move if it happens but at the same time, I don't want to double the risk if it doesn't play out as I am expecting.
Trade Safe!
HEET
Note
USDJPY finally broke below that support zone it was struggling to break. It has a relatively clear path down to 102.23. Note
In case anyone is in this trade. If it breaks above 109.5, I would suggest taking profits or at minimum partial profits and set the trade to break even.Trade closed: target reached
Unfortunately, extended beyond the SL but the target was eventually reached.
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.
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.