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Shivam_93

USD/JPY Short Setup

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Shivam_93 Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Support and Resistance Candlestick Analysis Multiple Time Frame Analysis dollar dollaryen Divergence rejection uncertainty Bearish Patterns consolidation-breakout consolidationzone
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supportandresistance candlestick mtfa dollar dollaryen divergence rejection uncertainty bearish consolidation-breakout consolidationzone
- Bearish divergence on the H4 using stochastics
- Price seems to be rejecting the major daily resistance level of 114.33 and started to consolidate on the H1 before breaking out this zone to the downside
- Could see price heading towards 113.00 as it fulfils the fibonacci 38.2 level on the D1 as a well due retracement after consecutive bullish moves
Trade closed: target reached:
120 pips achieved, target hit
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