usdjpy has been having a great and unpredictable path past few days with major news events and BOJ interventions and it was great for those who caught the moves but now its getting stable. On my current chart im waiting on the short which i have a tight stoploss to becouse this is not my initial trade the market is currently about to break out so once it does that...
after the past two weeks as price chose to break the high from which should have been an expectation. To avoid the same relapse for now as the prices settles i look forward to waiting for prices to create a clearer sign but as for now the market had created a flag where a break high seems more likely but i feel it would be rushed so waiting for price to break and...
currently price sitting on support zone but on higher time frame overall trend still bearish hence i see price breaking that support. i would take my short after price has reached level 149,263 along that zone
doing a top down analysis of the pair overall trend is bearing but my chart i flipped it for a different view or angle but the main idea is price currently lost momentum at its current spot and has a good chance of retracing a few points back before it continues going bearish. However this is only an idea as the price can chose to shoot up or create a gap but...