๐ USDJPY Technical Breakdown โ Yen Strength in Focus ๐
In this video, we take a close look at the USD/JPY, which is currently under pressure and trending to the downside ๐ฝ. The bearish momentum is clear, but there are several key factors to consider before positioning ourselves for a potential short ๐.
๐ First, itโs important to monitor the equity markets. If we start to see a pullback or sell-off in the stock indices ๐ฆ๐, that could translate into further yen strength, adding weight to a USD/JPY short bias ๐ด๐ช.
Another key piece of confluence is comparing the DXY (Dollar Index) ๐ with the JXY (Japanese Yen Index) ๐. This gives us deeper insight into the relative strength of each currency and helps confirm our directional bias before entering a trade โ๏ธ.
๐ Coming back to the USD/JPY chart, weโre watching for a retracement into a Fibonacci point of interest, which could provide a high-probability area to enter a sell setup. If price reacts from that level and confirms with structure, we could have a clean opportunity for continuation ๐๐ฏ.
โ ๏ธ This is not financial advice โ always conduct your own analysis and manage risk accordingly.
In this video, we take a close look at the USD/JPY, which is currently under pressure and trending to the downside ๐ฝ. The bearish momentum is clear, but there are several key factors to consider before positioning ourselves for a potential short ๐.
๐ First, itโs important to monitor the equity markets. If we start to see a pullback or sell-off in the stock indices ๐ฆ๐, that could translate into further yen strength, adding weight to a USD/JPY short bias ๐ด๐ช.
Another key piece of confluence is comparing the DXY (Dollar Index) ๐ with the JXY (Japanese Yen Index) ๐. This gives us deeper insight into the relative strength of each currency and helps confirm our directional bias before entering a trade โ๏ธ.
๐ Coming back to the USD/JPY chart, weโre watching for a retracement into a Fibonacci point of interest, which could provide a high-probability area to enter a sell setup. If price reacts from that level and confirms with structure, we could have a clean opportunity for continuation ๐๐ฏ.
โ ๏ธ This is not financial advice โ always conduct your own analysis and manage risk accordingly.
๐ ๐ BUY/SELL SIGNALS INDICATORS THAT CUT THROUGH VOLATILITY WITH PRECISION ๐ฅ๐ฐ
๐ youtu.be/N1ZBqc4VA3U
๐ ๐Join Our DISCORD For MORE Trade Ideas & Info:
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๐ youtu.be/N1ZBqc4VA3U
๐ ๐Join Our DISCORD For MORE Trade Ideas & Info:
๐ discord.com/invite/PcBeCdwVQq
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.
๐ ๐ BUY/SELL SIGNALS INDICATORS THAT CUT THROUGH VOLATILITY WITH PRECISION ๐ฅ๐ฐ
๐ youtu.be/N1ZBqc4VA3U
๐ ๐Join Our DISCORD For MORE Trade Ideas & Info:
๐ discord.com/invite/PcBeCdwVQq
๐ youtu.be/N1ZBqc4VA3U
๐ ๐Join Our DISCORD For MORE Trade Ideas & Info:
๐ discord.com/invite/PcBeCdwVQq
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.