FX:USDJPY   U.S. Dollar / Japanese Yen
I can see price heading up and respecting that valued resistance zone and heading to the downside for future moves. But I will only be targeting my desired RR which is 1:4, I am currently waiting for more confluences to be met before I enter this specific trade that being a moving average crossover wick rejections of the current zone etc...
Lets be patient and watch what this pair does as the market is coming to a close for the weekend so this trade could be a nice set up for next week.

Trade safe, thanks

Comments

If the market gaps up after the weekend there is a chance that price will come down and test the current resistance but it will be support and then from there price will continue the uptrend (channel) to the highs of the major resistance levels at the top.. at that point we could see some more downside moves. We will just have to wait and see how the market open and what price is telling us at the time.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out