JPY is moving in a nice range for the last while, which means we're going to trade mean reversion. I've learned that RSI, Stochastic and other overbought/sold indicators are more useful for this than trend trading, so we'll rely heavily on them for this type of setup.
- JPY is right at the top of the trading range, being clearly rejected with fat bearish candle on the 4h chart. - Stoch and RSI screaming overbought
- There is some indication of breakup, but we're not going to see it before a retracement into the channel, if it happens. - Nice setup for a scalp in some pair for Monday.