jba1206

USDJPY short idea (01-18-2019)

Short
OANDA:USDJPY   U.S. Dollar / Japanese Yen
USDJPY has been moving in a sideways manner in the mid term. With what it is showing, it seems the buyers are having a hard time breaking 110.2 price area. Thus, a minor pullback could be expected to the 109.7 - 109.5 price area before making a strong movement upwards. Price also made a short term double top reversal pattern along with a short term pullback, making the idea more probable. Failure to break 110.2 in the second rally could make the 108.15 region vulnerable again. A short position could be opened with the 1st tp area being 109.7 - 109.5 and the 2nd being the 108.15. All of these are mainly subjective and are open to comments and suggestions :)