Sabi

USDJPY Rebound Setup, Short Opportunity

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
2
USDJPY

Since last Thursday the USDJPY has formed a Bullish trend channel. However it is now approaching a significant block of support/resistance. If we see a rebound of this area then this will make a brilliant short entry for those who have missed out on the action.

I recommend taking a short entry once we see a rebound coupled with a break of the bullish trend channel for extra confirmation. A break above the 2015 low will put the pair back into bullish territory for now.
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.