SamKent
Short

USD/JPY shorting area

FX:USDJPY   U.S. Dollar/Japanese Yen
589 2 4
The USD/JPY             is continuing its decline on the 4H chart. The pair does look fairly oversold at this point, and has also near completed an ABCD pattern on the back of a 50% retrace. Therefore, we expect the pair to bounce back a little, and we're waiting for it at the important role reversal level around 117.427. At that point, any sign of bullish exhaustion or new bearish firepower will trigger us short.
Cool analysis =)
+1 Reply
very good idea!! Iwill agree
next month I am expecting fall down near 112
+1 Reply
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