Last week, USDJPY complete a bearish Bat pattern along with daily Outside Bar pattern and a daily False Break.
My resistance zone that included the bearish harmonics, daily downtrend line, structure and the 50 days MA line held following a small daily false break and it seems like USDJPY is maybe heading towards the support zone near 103-104.
A breakout above 107 will send USDJPY towards 111 to test the next resistance zone.
The daily False Break stopped out many traders from being in this successful reversal zone - If you struggle with setting your stop loss orders, read my blog post here goo.gl/J1HaHm
Tomer, The MarketZone
Sign up to my mailing lists - goo.gl/5kfYZn
Watch my Youtube channel - www.youtube.com/c/TheMarketZoneNet
My resistance zone that included the bearish harmonics, daily downtrend line, structure and the 50 days MA line held following a small daily false break and it seems like USDJPY is maybe heading towards the support zone near 103-104.
A breakout above 107 will send USDJPY towards 111 to test the next resistance zone.
The daily False Break stopped out many traders from being in this successful reversal zone - If you struggle with setting your stop loss orders, read my blog post here goo.gl/J1HaHm
Tomer, The MarketZone
Sign up to my mailing lists - goo.gl/5kfYZn
Watch my Youtube channel - www.youtube.com/c/TheMarketZoneNet
Trade closed: target reached
