USDJPY - Getting Over-Bought ❗️ Again

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

USDJPY has been overall bullish trading inside the rising broadening wedge pattern in red, however it is currently approaching around the upper trendline.

Moreover, the zone 150.0 is a resistance zone and strong round number.

🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline.

As per my trading style:
As USDJPY approaches the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

TheSignalyst

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TheSignalyst

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