Evening Traders,
Todays analysis – USDJPY- trading below weekly S/R with further downside probable,
Points to consider,
- Price action impulsive
- Weekly S/R Resistance
- Swing Low objective
- Oscillators Bearish
USDJPY’s immediate price action is bearish under Weekly S/R, a bearish retest will allow for a short biased trade.
The swing low is current objective, price action exceeding thing level will increase the probability of a further trend continuation.
Both oscillators are trading in their respective bearish control territories, remaining here is indicative of weakness in the market.
Overall, in my opinion, USDJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee
Todays analysis – USDJPY- trading below weekly S/R with further downside probable,
Points to consider,
- Price action impulsive
- Weekly S/R Resistance
- Swing Low objective
- Oscillators Bearish
USDJPY’s immediate price action is bearish under Weekly S/R, a bearish retest will allow for a short biased trade.
The swing low is current objective, price action exceeding thing level will increase the probability of a further trend continuation.
Both oscillators are trading in their respective bearish control territories, remaining here is indicative of weakness in the market.
Overall, in my opinion, USDJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee