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BitonGroup

USDJPY 16/01/2021 Short 300 Pips TP

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
BitonGroup Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Fibonacci Technical Indicators Wave Analysis fibprojection Hidden Bearish RSI Divergence Divergence Forex FXCM priceaction priceactionanalysis hiddendivergence
3
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fibonacci indicator waveanalysis fibprojection hiddenbearishrsidivergence divergence forex fxcm priceaction priceactionanalysis hiddendivergence
here we can see the Price is ranging in a descending Channel and it is showing a bearish wave
we can see a Hidden Divergence with the MACD as the price is making Lower Highs but MACD is making Higher High so it can be sign of trend Continuation with a higher volatility...
in order to speculate the next target we have specified the supports on its way, by Fibonacci Projection we can have some higher probability that the price shall reach the Minimum of parallel level which is 101.33 and henceforth
i have specified our TP Zone too

please comment your ideas
Trade closed: stop reached

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