TRICKY USDJPY SHORT MIGHT BE A TRAP! TRADE WITH CONFIRMATION!

Take a look at the above image of USDJPY daily TF chart. Its clearly visible that there many hurdles that USDJPY needs to clear before aiming low. In this case, the main chart that shows USDJPY 4H, shows that once the trendline breaks it will likely aim low. Due to this many traders might get trapped should they SHORT USDJPY once this trendline breaks. As a probable consequence, the price might likely start to reverse against their trade and head back up.

A CONSERVATIVE AND PATIENT approach would be to look at the bigger picture and scan for any hurdles that might cause the price to limit its downmove. in this case, scanning the daily chart (have a look at the attached image up). On this chart there lies a Monthly pivot and just below it lies the daily EMA. these two factors have been proven to be a strong support. To trade this setup with confirmation would be to wait for the DAILY candle to pierce and close below D EMA and Monthly pivot. Once this happens a short trade can be taken on 4H charts depending on the weekly pivots. The target which would likely be tested would the area near 110.000 region.

Shall there be any updates, i will post the entry requirements below