Sold USDJPY at 112 because there is significant resistance at the top:
1) The first Resistance being the TREND LINE(indicated by the red line) which has managed to stop rallies since October'18.
2) The second resistance being the recent high at 112.12.
Traders can look for SELL entries between 111.90-112.10 with Stop Losses above the Trend Line.
For TP, Traders can target 111 as the initial TP and 109.80 as the final TP.
1) The first Resistance being the TREND LINE(indicated by the red line) which has managed to stop rallies since October'18.
2) The second resistance being the recent high at 112.12.
Traders can look for SELL entries between 111.90-112.10 with Stop Losses above the Trend Line.
For TP, Traders can target 111 as the initial TP and 109.80 as the final TP.
Trade active:
Trading active. Entered Sell at 112.10 and currently in 25 pips profit
