USDJPY Support Becomes Resistance Short

U.S. Dollar/Japanese YenFXCM

Description

⋅ Nov 21, 2017 4:56 AM

As is commonly seen in USDJPY, support becomes resistance. The price has now entered a zone that was previously support, looking for it to hold as resistance.

Also, Stochastic (34, 3, 3) is overbought.

Trade closed: target reached

⋅ Nov 22, 2017 8:55 AM

+50 pip profit.

Support and Resistance Oscillators