FullTimeTrader
Short

USDJPY-H1-trading the double top

FX:USDJPY   U.S. Dollar/Japanese Yen
830 1 16
My bias is short with this pair this week. I have already long term sell orders on other USD related pairs, so i will try to scalp some pips here taking a small risk and moving SL to BE as soon as possible.

Here we can see a nice double top formation with clear bearish divergence on AO.
The price already broke the neckline and is trying to retest it. The ema 55 could act as resistance at that area.
I will place a sell limit order at the 0.50 fib retracement.

Best regards.
hlmachado
a year ago
Hi,
i´m new at this, but from your point of view, is it possible that in the next twelve months USD/JPY might reach 1.05 or even 0.8 values?

Thanks
Reply
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