⚜ USDJPY Short 280 Pips ⚜

Hello Traders, 🙋‍♂️🙋‍♂️🙋‍♂️

Here we have a USDJPY long trade idea. If you like this idea please show your support!

USD

United States Dollar ( USD ) weakness can be seen as price has hit resistance on its bull run. On the DXY chart below we can see price has hit our structure level and trendline. Comparing this to reversal patterns we can see a possible shooting star forming which is a clear reversal indicator. 🌠🌠

DXY weakness

JPY

The Japanese Yen (JPY) has been gaining some strength recently technically and fundamentally. Technically we can see other JPY pairs at their trendline locations for example NZDJPY below :

JPY strength can be seen here as NZDJPY is at a trendline and structure zone and should push down further

Fundamental Factors :

• According to NIKKEI media, Japan is planning an economic stimulus package worth more than 40 trillion yen.
  

Overall
Our analysis tells us this pair should push downwards. As we have matched 2 pairs which are moving in opposite directions we should expect some impulses or sudden movements in price action as both pairs factors will push this down further.

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Please trade with caution and make sure you set your stop losses! Happy Trading 😁

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Comment:

Minor spelling error on intro, It should be USDJPY not GBPUSD