- USDJPY seems to be caught in a pretty clear range on 4h and 1h charts - resistance zone is between 118.60 and 118.90 - support zone is between 117.25 and 117.40
The daily chart has lower highs and price is mostly below 20EMA (on 1d chart), so I would prefer to short in that range, close but not reverse the position near support and in case price falls below 117.25 wait for a pullback to reshort again _______________________________ I place a limit short order at 118.55, Risk-Reward = 2.87 SL@ 118.95 (-40), TP@ 117.40 (+150)
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