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Rhnmrks

USDJPY SHORT 06/07/2023

Short
U.S. Dollar / Japanese Yen (OANDA:USDJPY)  
Rhnmrks Updated   
OANDA:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Technical Indicators DJ FXCM Index usdjpyshort usdjpyanalysis jpy USD
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trendanalysis indicator usdollar usdjpyshort usdjpyanalysis jpy usd
USDJPY SHORT 06/07/2023

USDJPY Formed a hidden bearish divergence.

Volume profile
Previous day value area high aligns with equilibrium at 139.650.
Comment:
Based on my analysis, I anticipate a downward trend in the market for USDJPY. This expectation is primarily driven by the presence of a hidden bearish divergence, which suggests a potential reversal in the current upward momentum. Furthermore, the 50 percent or equilibrium level aligns closely with the high of the previous day's volume profile, indicating a significant resistance area. These factors together indicate a high probability of a downward movement in the USDJPY market. Traders should closely monitor these indicators and consider implementing appropriate risk management strategies in light of this analysis.
Comment:
Close position at 139.867 / +0.10%
Bullish Divergence on 5 minutes TF.

Hoping to enter short again at 140.042.
Comment:
Price went up at 140.042.
Entered short at 140.042.

Currently in profit for +0.07

Still aiming for 139.650.
Trade closed: target reached:
TP'ed 139.688
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