In this analysis, U.S. Dollar/Yen Japanese forming a bearish divergence in 30 minutes timeframe. Also, we see a bearish channel flag pattern and we see a broke down of this chartist pattern in USD/JPY. As I see a bearish setup, this could be an amazing profit of 122 pips approximately to find down.
Now, I want to share here another timeframes what I found out.
In H4 timeframe, I see the same in 30 minutes timeframe, but this it's very different because in H4 we forming a key supply zone in that gray zone that it's called imbalance zone and we see that this could be another signal that we're going to short U.S. Dollar in front of Yen Japanese.
And also, to know more deep, we see a bearish Gartley harmonic pattern with all Fibonacci measure to valid this harmonic pattern, with Fibonacci measure and also, the confirmation of this bearish divergence and break out of this bearish channel flag pattern in 30 minutes, all thesm it's a good signal to short U.S. Dollar.
So guys, I see that this trade has a lot potential to find a short position. For that, I put a place a sell order limit a little more of the price at 122.66 JPY and SL to $123.15 JPY (49 pips) and target to $121.44 JPY (122 pips). This have a risk/benefit 1:2.
I hope that this idea support you very well in this Forex weekly.
Now, I want to share here another timeframes what I found out.
In H4 timeframe, I see the same in 30 minutes timeframe, but this it's very different because in H4 we forming a key supply zone in that gray zone that it's called imbalance zone and we see that this could be another signal that we're going to short U.S. Dollar in front of Yen Japanese.
And also, to know more deep, we see a bearish Gartley harmonic pattern with all Fibonacci measure to valid this harmonic pattern, with Fibonacci measure and also, the confirmation of this bearish divergence and break out of this bearish channel flag pattern in 30 minutes, all thesm it's a good signal to short U.S. Dollar.
So guys, I see that this trade has a lot potential to find a short position. For that, I put a place a sell order limit a little more of the price at 122.66 JPY and SL to $123.15 JPY (49 pips) and target to $121.44 JPY (122 pips). This have a risk/benefit 1:2.
I hope that this idea support you very well in this Forex weekly.
