JLJ002500
Short

USDJPY - Trade Journal

FX:USDJPY   U.S. Dollar / Japanese Yen
47 0 5
Have been trading the ST             consolidation channel. Last trade was long off support. Current trade is short off resistance.

Supporting factors:
- Channel resistance held
- Strong bearish price action
- Decent risk/reward

Opposing factor:
- See bullish divergence on RSI on 1D chart below

1D:
snapshot

Bullish divergence has been building indicating a potential reversal. I expect channel support to be tested again before any significant reversal. Despite my expectations, this trade needs to be managed. Watch price action especially around 112.50 - 112.12 area.
Trade closed: target reached: 1st TP reached. Took profits before going into the weekend.
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