2 Ways to rejoin the USDJPY-Dowtrend

FX:USDJPY   U.S. Dollar / Japanese Yen
34 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
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.
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.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out