USDJPY: Price at Key Resistance, We Watch for Shorts
Weekly Key Resistance Level
1. Sliding parallel of the upsloping blue median line (previous support)
2. Sliding parallel of the downsloping black median line (resistance)
3. The 50% fib retracement of previous downtrend
240 min Setup:
Sell the 78,6% retracement of previous sell off
Stoploss: 110.200
Take profit: 107.770
1. Sliding parallel of the upsloping blue median line (previous support)
2. Sliding parallel of the downsloping black median line (resistance)
3. The 50% fib retracement of previous downtrend
240 min Setup:
Sell the 78,6% retracement of previous sell off
Stoploss: 110.200
Take profit: 107.770
Trade active
Comment:
Our current level we do have the completion of a bearish bat pattern:
