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TkCha
Mar 6, 2019 12:53 AM

USDJPY Short Short

U.S. Dollar/Japanese YenFXCM

Description

This pair looks like there may be a possible short opportunity incoming.
If you were to look at the daily chart, you can see that price had rejected the 112.000 price level 3 times.
Here on this 4HR chart, looks like we are currently in a ascending triangle along with what looks like a double top formed inside the triangle.
If price breaks down of the triangle, I believe a short to the 0.50% fib level is a good price target.

Trade closed: target reached

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