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Sober_Trading
Jun 30, 2022 3:30 AM

USDJPY - Reversal Signals Short

U.S. Dollar/Japanese YenFXCM

Description

In the left chart (4H time frame), you can see buyers are weak now and couldn't push the price to cross the supply zone (136.4-136.7)
The angle of the upward leg is lower than the downward leg and shows a possible pullback.
On the other hand, in the 1H chart, we have a large green candle, which after that, the price completely reversed with two candles, so it's more likely to be an exhaustion gap. Almost we have a double top.
All price action data shows that it's hard to break this resistance zone, and probably we will have a reversal trend with at least the demand zone.
We have 3 Doji candles in the 4H chart; those are the signal bar for us, so I will sell if we have a valid bearish key bar and the uptrend line break.
Comments
UnknownUnicorn1978228
Exactly what I see, but as mentioned already we need further confirmation. Lets keep patient and then eat those Pips.
Sober_Trading
@JDaria, Done bro, lol
UnknownUnicorn1978228
@Sober_Trading, yes made good pips also :)
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