michele_laino
Short

USDJPY - many bearish signals

OANDA:USDJPY   USD/JPY
14 days ago
On the daily chart we can see how the price, after a sharply upward move, stops near an important resistance.
After a nice white candle, we can see how the price action shapes a long legged doji, after that it shapes a reversal hammer (not so nice).
Furthermore, these two reversal signals shape a tweezer top.
Thus, we have different reversal signals that can give us short opportunities, so we could take advantage from that by selling US Dollar             .
Using Fibo we could put our TP at 23,6% of the previous swing and a SL above 111.36, for instance at dashed line.
If the price continues its ascent, we can buy when price pierces the resistance line with TP at 123,6% Fibo or near next resistance line at 114,431 price level, whit a SL at 111,442 (the nearby resistance line at current price).
I will happy to see comments and suggestions to improve my analisys.
Thanks.
13 days ago
Comment: We should wait for make some profit with a price correction.
Waiting for bearish signals, maybe on H4 or H1.
Michele Laino
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