NTrading

USDJPY Possible Scenarios

FX:USDJPY   U.S. Dollar / Japanese Yen
85 6 10
USDJPY             can break either higher or lower. I am interested in case it breaks and then come back in correction.

If it breaks suddenly (which is possible because we have Fed tonight) and keep running i will not jump in a trade.
Comment: I am not interested in short yet.
Comment: Breakout came faster than expected, However i will still wait for correction before taking a position
I think its still in range. I do not consider downside breakout yet.. check spx500... yesterday double bottom break in uj was just stops hunting and spike up was clear sign that it was false break. targets still same 116
+1 Reply
NTrading newbie2016
Thank you for your comment, it broke a small corrective structure, which leads in a bigger corrective structure, It broke a triangle which lead to a flat.
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newbie2016 NTrading
yes correct.. but uj many times broke upside as well... but still back in same range.. i think untill and unless deceisive break of 110.. i still see 116 and high in uj.
+1 Reply
NTrading newbie2016
Absolutely agree, this is the reason i said i did not short, i believe it is going higher soon
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newbie2016 NTrading
check price action... last 4hr candles at 111 area.. that is just to deceive sellers if anyone sell.. :) cuz it is just consuming sell orders and will jump up.. i think market just confused sellers breaking double bottom :)..
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newbie2016 newbie2016
yesterday.. i shared uj buy setup and also shared.. to be prepare for double bottom breakout... as per its price action.. so uj did exactly same and after break of double bottom.. spiked up.
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