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Technician

USDJPY Possible failure at resistance

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Technician Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Support and Resistance Engulfing Candle Relative Strength Index (RSI)
152
17
supportandresistance engulfingcandle relativestrengthindex
The USDJPY failed to sustain the intraday break above latest swing high and resistance
  • Testing Previous swing high and resistance area among 104.30-104.50
  • The price formed a bearish engulfing 8-hour candle
  • Bearish divergence on RSI
  • Shooting star candle on the daily chart

Targets are outlined on chart, my stop will be a candle closing above the recent high 105.00


Remember,
-Learn, practice, plan, then trade..
-Never risk more than 5% of your capital on a single trade
Best regards,
Technician
Trade closed: stop reached:
Stopped out on the trade
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