Hello dear traders, I have found very interesting opportunity on the USD/JPY. I have found that price extended into + 2.1 standard deviations based on 50 average. The upper band successfully held once again and the question is can we repeat the same scenario like the previous successful rejection back on March 13 ? In my opinion YES, and we got a good odds for that.Supply trendline also matched the upper band and that is another strong sign that this level looks attractive for swing traders.
Another interesting point is BB% divergence on this potential peak. This even more weakness in the analysis.
My SL recommendation is 107.10 and my downward projections are set at 105.80 and final target around 104.50.
I would like to see your comments on this analysis and your observation >