4 hours timeframe of USDJPY
1. On the 4 hours timeframe of USDJPY, you can see this is a conservative bearish structure reacted on USDJPY. At the currency points of 109.000, the market was slowly to react the market pullback and be kept to resist at the resistance region.
2. At the resistance region of 109.000 and the supporting region of 107.472, the head and shoulder pattern shows on the market chart on the 4 hours timeframe. Head and shoulder pattern is a reversal market pattern which might be indicated the reaction of conservative bearish structure, but the head and shoulder pattern mustn't be reacted the bearish structure at all. If the price didn't broken down the descending trend line or supporting region, which means the market wouldn't be reacted the conservative bearish market,and the market was going to conservative upward instead.
3. Condition of forex trading account:
Real Account on XM Trading: $ 56.26
Lot Size: 0.01
Entry Price Level: 108.000
Take Profit Level: 106.725
Stop Loss Level: 108.565
Risk and Reward: 2.4
Partial Close Level: 107.272
1. On the 4 hours timeframe of USDJPY, you can see this is a conservative bearish structure reacted on USDJPY. At the currency points of 109.000, the market was slowly to react the market pullback and be kept to resist at the resistance region.
2. At the resistance region of 109.000 and the supporting region of 107.472, the head and shoulder pattern shows on the market chart on the 4 hours timeframe. Head and shoulder pattern is a reversal market pattern which might be indicated the reaction of conservative bearish structure, but the head and shoulder pattern mustn't be reacted the bearish structure at all. If the price didn't broken down the descending trend line or supporting region, which means the market wouldn't be reacted the conservative bearish market,and the market was going to conservative upward instead.
3. Condition of forex trading account:
Real Account on XM Trading: $ 56.26
Lot Size: 0.01
Entry Price Level: 108.000
Take Profit Level: 106.725
Stop Loss Level: 108.565
Risk and Reward: 2.4
Partial Close Level: 107.272