U.S. Dollar/Yen Japanese it's look bearish from this side. So, we see that it's moving into this bearish channel flag and MACD doesn't have enough strengthen to continue up in H1 timeframe
Meawhile, in H4 we see that we're into this bearish channel in formation as we see this bearish channel flag, we're in the key point to sell
Also, I read that U.S. Dollar fell today in some pars as an uptick in investors' appetite for riskier bets diminished the U.S. currency's appeal. Also, another fundamental analysis that I read recently it's that United Sates considering to block Russia ability to pay its U.S. bondholders that expire next week and this could be another bad expectative that I see in this rumor.
So guys, I'm shorting USD/JPY at $129.48 JPY and my target will be $127.40 JPY (207 pips) and SL to $129.98 JPY (50 pips)
I hope that this idea and analysis support you!!!
Good luck!!!
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At the moment, we're still in profits in USDJPY with 131 pips for now.
So, I put my break even in the price entry to $129.48 JPY. We have 0 earns as 0 loss. Only in case that USDJPY goes back to up, but I'm very sure that USD will continue down.
Trade closed manually
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USD/JPY forming an harmonic pattern called bullish butterfly pattern
I suggested to closed up this short posiiton now and get profits from now.
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To more quickly, find up the GBP/CAD and put short position now at the market price. SL to $1.5926 and target to 1.5780