scalpking
Short

USDJPY TO THE DOWNSIDE PENDING...

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY             SHORT

There are a few reasons I am seeing a Short/Sell on USDJPY             . Plotted the S/R at 106.126 and currently held under it on the daily. UPWARDS TL was drawn off the H4 so once that has broken through and closed under it... that will be our entry. The candle must fully close below the TL in order for it to be a short. TP is at 104.660 which is a previous resistance.

There is also another DOWNWARDS TL if you zoom out the market , you'll be able to see it. So if it holds and never breaks that UPWARDS TL... we will expect it to go up and break the S/R at 106.126 and head towards the TOP TL which is around 106.800 area.
Candle has respected the TL and ENGULFED the previous bullish candle. This is a good reversal candlestick. It also closed below the S/R so many confluences here
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