NJONGO_1
Short

USDJPY 5TH RESISTANCE SHORT

FX:USDJPY   U.S. Dollar / Japanese Yen
I have chosen to analyze this pair on DAILY time frame as it provides clarity on the pair direction, as you can see the pair is on an uptrend with two trendline retests which have resulted in Bullish momentum and price increase.

on a horizontal view, between 114.000 and 113.000 we have seen Resistance Rejection, previously in December and as of late in August 2018.

the markets closed on 21 September 2018 with a Long Upper Shadow.

on the 60 minute time frame, price closed at the previous left shoulder on the 16th July 2018 at 112.800.

an ideal Entry would be at 114.000 as shown on the chart.
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