PietroCasoar
Short

USDJPY - Sell Opportunity ?

FX:USDJPY   U.S. Dollar/Japanese Yen
88 0 1
It seems wave C minute is about to start for a short retracement of 0.382 ~ 0.50 before starting the next Impulse on the minute time period ?

Stochastic and RSI both show oversold status with a short opportunity.
Although SMA shows uptrend on the 1H timeframe, however on the 30Minute timeframe the close has already crossed the SMA high in downwards direction, suggesting a small fibonacci/retracement at 0.382~0.50 before continuing long.

The opportunity to short this pair would be after it breaks out of the structure, possibly during this coming Japan News.

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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy.
Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out.

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