Looks like USDJPY pair could head to a potential distribution phase. Far too early to say, but we'll have to see how this week plays out for USD index. I expect some pull back after the USD chased the interest rate hike. Not much ECO news coming this week for the USD. But it could be a big week for the JPY. So it may be wise to wait until the NCU meeting is over Wednesday morning.
So don't mind the RR with the stop loss. Thats just the idea before more data rolls in.
If the top resistance and 4hr OB aren't respected then this short wont happen.
So don't mind the RR with the stop loss. Thats just the idea before more data rolls in.
If the top resistance and 4hr OB aren't respected then this short wont happen.
Comment:
Be careful if something like this happens in the short term. Must break 2 lows to validate a bearish count.