USDJPY 60 PIP SELL

28 thg 9, 2020

USDJPY showing great potential for a short with a combination of many factors. First of all we recently had an ascending triangle form on the 4hr chart that was broken as of recently. Along with this we have now seen price return to this resistance trend line hence acting as a retest of the previous trend, hitting both a key fib level (0.618) and the 200 EMA, showing a clear rejection on both parts. However due to the opening price of this Monday i am waiting for a 15 PIP retracement until entering the trade to allow for the best risk to reward ratio on this trade. Once hit the TP level is set at 60 PIPS as well as the SL at 30 PIPS (1:2 RISK TO REWARD).