FX:USDJPY   U.S. Dollar/Japanese Yen
513 0 0
No doubt - in big picture we've been consolidating near a former massive support zone and from a certain point of view, one could say that this is the first proper re-test.
If this was a H4 (240min) chart - would you go long here? - Most likely not as you would consider this area as a resistance. Even if it would eventually break higher, these break-outs don't usually happen on the first attempt. As you can see on the chart, it took 3 attempts to break the support, why not 3 attempts to break the resistance?
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out