After three weeks of consolidation, USDJPY finally erupted, driven by the NFP release. This impulsive move respects the 90% rule.
However, the recent price action has formed a double top pattern, suggesting a potential reversal to the downside.
Based on the technical setup and potential reversal, I am biased towards a short position on USDJPY. I'm anticipating for continuation pattern for the move of price to the nearest support level at price 146.539
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However, the recent price action has formed a double top pattern, suggesting a potential reversal to the downside.
Based on the technical setup and potential reversal, I am biased towards a short position on USDJPY. I'm anticipating for continuation pattern for the move of price to the nearest support level at price 146.539
If you found this helpful please support your fellow trader with a like.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.