USDJPY: Potential Short Setup at Monthly Resistance
Updated
USDJPY has been in a strong uptrend, recently consolidating within a rectangle pattern.
Price attempts to hold above the rectangle and potentially challenge the monthly resistance level.
Always practice proper risk management with stop-loss orders
Price attempts to hold above the rectangle and potentially challenge the monthly resistance level.
Always practice proper risk management with stop-loss orders
Comment
As anticipated, the price action adhered closely to my technical analysis, reaching the predefined resistance level before exhibiting a bearish bounce.
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