Sell USDJPY (Daily)

FX:USDJPY   U.S. Dollar / Japanese Yen
in Daily chart :
The resistance level at 111
Broken support level
61.8% fibo retracement
Downtrend line

> Sell
Entry : 111.00
Stop : 111.30 (30 pips)
TP1 : 110.40 (60 pips)
TP2 : 109.80 (120 pips)

in 4H chart :
The resistance level at 111.1
Regular divergence

Trade active: Trade setup activated
Comment: We can see shooting star and bearish pin bar at 111.00 , so we sell at a good area.

Trade closed: stop reached: Profit : -30 pips

But we can look for another sell dealing downtrend line in daily chart and 78.6% of fibo retracement.

Entry : 111.42
Stop : 111.75 (33 pip)
TP1 : 110.5 (90 pips)
TP2 : 109.8 (160 pips)

Comment: Regular divergence in 4H chart.
Lower price but higher RSI.
Overbought in RSI indicator

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