Hello everybody! We are currently in a downtrend on USDJPY on a daily and weekly timeframe, and we could expect another aggressive impulse, creating a lower low. The price has just retested the daily support that became resistance, and also the EMA. MACD lines are below 0 and the moving averages are also showing confluence to this bearish scenario. Moreover, the CS Indicator is indicating USD getting weaker, while JPY strengthening.
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SL was activated due to some pips and then TP was reached with a strong impulse, as mentioned in the strategy
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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.