USDJPY short term reversal or still bullish?
What do I see?
Price has had a tendency or consolidating before pushing to the upside or downside.
The Weekly and Daily charts suggest price is still bullish perhaps trying to push to it's past hight but the smaller time frames suggest otherwise for me.
I have 2 plans should price decide to break from the trendline I will go long to the upside until the next resistance or midway or If the reversal breaks through the support then I will go short. If none of these don't happen my trade plan will not be valid.
I understand that past data/market movement cannot always be accurate but this has worked for me so far.
Price has had a tendency or consolidating before pushing to the upside or downside.
The Weekly and Daily charts suggest price is still bullish perhaps trying to push to it's past hight but the smaller time frames suggest otherwise for me.
I have 2 plans should price decide to break from the trendline I will go long to the upside until the next resistance or midway or If the reversal breaks through the support then I will go short. If none of these don't happen my trade plan will not be valid.
I understand that past data/market movement cannot always be accurate but this has worked for me so far.
Trade closed: target reached
