USDJPY Rebound Setup, Short Opportunity

15 thg 2, 2016

USDJPY

Since last Thursday the USDJPY has formed a Bullish trend channel. However it is now approaching a significant block of support/resistance. If we see a rebound of this area then this will make a brilliant short entry for those who have missed out on the action.

I recommend taking a short entry once we see a rebound coupled with a break of the bullish trend channel for extra confirmation. A break above the 2015 low will put the pair back into bullish territory for now.