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DanJB_Fx
Jul 30, 2019 12:36 PM

USD/JPY Potential Short Opportunity - 4 R/R Short

FX:USDJPY60
U.S. Dollar/Japanese YenFXCM

Description

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A slight pull back to 108.6 area will give a potential:
  • 38.2 retracement
  • rejection of previous lower time frame descending trend
  • rejection of higher timeframe support/resistance.


Good R/R comes from targeting previous strong higher timeframe support/resistance

Trade active

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Trade entered using 5 min entry at 108.628
Trend AnalysisChart PatternsTechnical IndicatorsUSDUSDJPYmacdivergenceFibonacci RetracementTrend Line Breakshortsetupshortdaytrade
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