bradlaguna
Short

Possible USD/JPY Retracement

FX:USDJPY   U.S. Dollar/Japanese Yen
Observation:

1) The UJ pair has moved up aggressively. Price is approaching a strong resistance and a correction is coming.
2) The TS             has crossed the KS line.

Recommendation:

1) An aggressive strategy would be to short the pair now and set your stop above last month's high of around 106.8
2) For a more conservative (safe) strategy, wait for a kumo twist and the price to close finish below the cloud before making a short move. Set stops below the previous high and adjust accordingly.

Good luck and happy trading!
Comment: TRADE CLOSED. Trade is stopped out for me. The uptrend continues, although it's losing momentum. Going to keep monitoring this and expecting a retracement soon.

Related Ideas

United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out