Get started
Fxprotrader

USDJPY Price at Key Resistance Level - We Watch for Shorts

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Fxprotrader  
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY medianline Pitchforks
33
2
usdjpy medianline pitchfork
Having identyfied the slope of price in the USDJPY 240min, i was looking for a slide parallel of the upsloping pitchfork which gives us the slope, where we had previously price action. The slide parallel shown in the chart has acted as both support and resistance previously and we now see that price was rejected at the time trying to break above it.. Watch for a sell setup to complete at current level to sell USDJPY. For those who trade candlestick formations, a pinbar is already there..!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.