SamKent
Short

USD/JPY Looking for Reversal

FX:USDJPY   U.S. Dollar/Japanese Yen
145 0 3
The USD/JPY             fell from 110 with a strong impulsive sequence to the 105 support area. Currently, the pair seems to be in corrective mode, with the buyers unable to produce very significant gains for the week. Additionally, the 20 EMA seems to be strong resistance so far, which has not been the case for a long while. Given these considerations, we feel like a strong break and close below the ascending trend-line will be enough to warrant a short, hoping that the sellers produce another impulsive move towards the 104.150 area, with our stop loss above the 20 EMA and 50% fib we should have good r&r.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out