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Fxprotrader
Jan 7, 2017 1:49 PM

USDJPY Price at Key Resistance Level - We Watch for Shorts Short

U.S. Dollar/Japanese YenFXCM

Description

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..!
Comments
KayG
Great work thanks!
Fxprotrader
@KayG, Thank you.!
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