U/J now stops at SMA100 and SMA200 : 121.50 : This is indeed a strong support especailly Kumo cloud also lies there.
+ an ascending .
So what am I wating for ?
I took profit a SHORT position of U/J at 121.50, and I want to SELL USDJPY again.
SELL U/J at current level at 121.69 is not a bad idea, stop loss should be above 122.20
But I think it's better if we wait until USDJPY breaks the ascending or daily closes below 121.50
There is no major support until 118 level, so if 121.50 is offically broken, USDJPY could fall intensively to 118
I think we should concentrate in spycho levels : 120 and 119 first.
I still SELL.
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