Last week, USDJPY complete a bearish Bat pattern along with daily Outside Bar pattern and a daily False Break.
My resistance zone that included the bearish harmonics, daily downtrend line, structure and the 50 days MA line held following a small daily false break and it seems like USDJPY is maybe heading towards the support zone near 103-104.
A breakout above 107 will send USDJPY towards 111 to test the next resistance zone.
The daily False Break stopped out many traders from being in this successful reversal zone - If you struggle with setting your stop loss orders, read my blog post here goo.gl/J1HaHm
Tomer, The MarketZone
Sign up to my mailing lists - goo.gl/5kfYZn
Watch my Youtube channel - youtube.com/c/TheMarketZoneNet
My resistance zone that included the bearish harmonics, daily downtrend line, structure and the 50 days MA line held following a small daily false break and it seems like USDJPY is maybe heading towards the support zone near 103-104.
A breakout above 107 will send USDJPY towards 111 to test the next resistance zone.
The daily False Break stopped out many traders from being in this successful reversal zone - If you struggle with setting your stop loss orders, read my blog post here goo.gl/J1HaHm
Tomer, The MarketZone
Sign up to my mailing lists - goo.gl/5kfYZn
Watch my Youtube channel - youtube.com/c/TheMarketZoneNet
Trade closed: target reached
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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.
Related publications
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.