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KB_MarketAnalysis

Short on the Pullback

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
KB_MarketAnalysis  
FX:USDJPY   U.S. Dollar / Japanese Yen
Multiple Time Frame Analysis Support and Resistance Moving Averages
12
0
mtfa supportandresistance movingaverage
The pair is retracing after the break of a level at ~108.38.

Plan:

- Wait for the price to finish its retracement and wait for a confirmation signal.
- After a confirmation, go short with stop at the top of the 108.38 level or 50EMA.
- Put TP on the current swing low or trail until a bullish momentum occurs.

Things to look at:

- The price respected the 50EMA as a dynamic resistance.
- Bearish momentum on the daily.
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