fxstudent299
Short

2 Ways to rejoin the USDJPY-Dowtrend

FX:USDJPY   U.S. Dollar/Japanese Yen
31 0 0
- after the rejection on resistance line at 177.45 USDJPY             fell to 116.25 and might consolidate in a siderange or move up to 117.00-117.15 in the Asia session

- the opening in London should confirm the major direction which is on daily, 4h and 1h charts are all down, so
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1. Setup - "Falling out of the box"
USDJPY             short @116,23 (R:R=2.0)
SL 116.45 (-24), PT 115.75 (+48)

2. Setup - "Running into the resistance"
USDJPY             short @117.05 (R:R=3.25)
SL 117.40 (-40), PT 115.75 (+130)

Remeber, tomorrow is FOMC , which is one of events, where I dont like to have open positions 1 hour before untill 1 hour after it.
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Disclaimer: There is a very high degree of risk involved in trading forex . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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