WARHORSETRADING
Short

USDJPY 2H, POSSBLIE SHORT.

FX:USDJPY   U.S. Dollar / Japanese Yen
ASSET: UJ TIMEFRAME: 2H
REASON FOR TAKING TRADE SETUP:

- PRICE FELL WITHIN OUR *BAT* PATTERN FORMATION(AB+CD) PREVIOUSLY, ROUGHLY OVER A TWO WEEK PERIOD.

- OVERALL PRICE IS @ A MAJOR RESISTANCE LEVEL (113.484)HOPING FOR PRICE TO KEEP THIS RESISTANCE ACTING A PRICE BARRIER/CEILING. WE ARE HOPING TO SEE PRICE RETEST AS RESULT TO HIT OUR FIRST TP @ 113.10.

- FOR THOSE THAT TRADE PATTERN REVERSALS, THERE IS A POSSIBLE HEAD AND SHOULDERS FORMATION MEANING PRICE CAN REVERSE BEARISH FOR A FINAL RESULT OF PRICE RETESTING TO OUR PROJECTED TP2 @ 112.85.

- TAKE NOTE THAT EARLIER ON TODAY WE ANALYSED FOR GOLD / XAUUSD TO BE BULLISH . THIS IS GOOD FOR US AS THE TWO PAIRS OFTEN RUN IN CORRELATION. THIS MEANS IF ONE IS BEARISH THE OTHER IS BULLISH AND VISA-VERSA.
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