Nikkei selling for end of year tax-loss/closing of books is pushing usdjpy further than expected. Both DXY and JXY are not reacting in this way. I expect a test of support ~117.20. if t closes both. potential reversal (ie no other fundamentals have changed)
so far this is behaving almost exactly like break out/ retest pattern.
yellow is 4hr orderblocks.
failing this 117 is the next level of real support but i would just watch in that area because 117 would break the up trendline from the last low that was put in.
so far this is behaving almost exactly like break out/ retest pattern.
yellow is 4hr orderblocks.
failing this 117 is the next level of real support but i would just watch in that area because 117 would break the up trendline from the last low that was put in.
Comment:
for my own record, this trade yielded about 10 pips and caught by my trailing stop