Hello fellow traders and investors,
USDJPY is facing a linear resistance and the bulls look exhausted on the lower timeframes. We can see a rising wedge on the 4H timeframe, combined with divergence at this resistance cluster. See below:
Therefor we think it's worth the risk to short this pair until the channel support, with a proper risk management. This is a 1:9 risk to reward, really a rare occasion.
Good luck and don't forget to give us a thumb if you like our analysis! If you have any questions or want us to analyse a specific pair, feel free to contact us.
Regards, ValescoTradingGroup
USDJPY is facing a linear resistance and the bulls look exhausted on the lower timeframes. We can see a rising wedge on the 4H timeframe, combined with divergence at this resistance cluster. See below:
Therefor we think it's worth the risk to short this pair until the channel support, with a proper risk management. This is a 1:9 risk to reward, really a rare occasion.
Good luck and don't forget to give us a thumb if you like our analysis! If you have any questions or want us to analyse a specific pair, feel free to contact us.
Regards, ValescoTradingGroup