USDJPY Resumes its downtrend Short

U.S. Dollar/Japanese YenFXCM

Description

⋅ Apr 9, 2020 4:44 PM

The correction for USDJPY stopped at the multi year descending trendline and appears to be over.

A daily close below 108.35-50 will open the door to 106.60 and then toward 100.

Comment

⋅ Apr 15, 2020 6:36 AM

TP 1 Achieved. SL to BE for the 2nd position

Comments

TheTradersAvenue

⋅ Apr 10, 2020 10:30 AM

Looking for this setup to play on this pair

Simply4ex

⋅ Apr 15, 2020 6:42 AM

@TradingAxis, played out nicely

arjunyonjan

⋅ Apr 9, 2020 5:11 PM

wrong analysis. It will take few months for this prediction to get valid! trade with caution. dont follow blindly..

Simply4ex

⋅ Apr 9, 2020 5:20 PM

@arjunyonjan, Lets see.

wiqbal494

⋅ Apr 9, 2020 5:49 PM

@arjunyonjan, I am of the same following as the op. Its a impulse wave down.. Not a correction so it won't take long... I would estimate a few weeks... I would recommend tight stop losses to start with and then maybe a trailing stop loss enough to give retractmemts space to move and continue