USD/JPY many reasons to go short here, i'm in

FX:USDJPY   U.S. Dollar / Japanese Yen
We have many reasons to get into the short position here

1) 4hour trend continuation, going with the trend is always less risky as to opposing it
2) 78.6% fib resistance level from previous swing high to low
3) Heads and Shoulders structure formed, Double Top too
4) Divergence Spotted in the AO
5) AO getting into negative territory
6) Now we have a large bearish candle to provide the momentum needed for further downside

Watch the cloud break, price is now below the kijun-sen and tenkan-sen, its a good sign.

Many reasons to go short here, i am in (-:

Same here! I'm paying attention to the 4hr. Right as I was about to get in 4rm observing the 4hr, it drops drastically lol I'm in now but wish I now got in a little sooner around 110. I shorted@109.7.
+1 Reply
mywc TradZ
good for you! lets hope that this works out in our favour (:
TradZ mywc
I'm not going to be greedy on this one. I'm hoping for the market to head down to 109.3(exit) b4 hitting my STOP
Great analysis by the way:)
mywc TradZ
Thank you, yes greed is evil. All profits are good profits!
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