USDJPY technical analysis.

USDJPY - H4

Market (55 above 21) is bearish. Price (8 above 5) is Bearish. Stochastic is moving down. Support at 111.0, MPP/110.5 and 110.0/MM2/WS1. Resistance at WPP/MM3/111.50, 112.0, WM3/112.50. Price has been ranging on this pair and am looking for a break out to the down side. I am waiting for a lower low and sell when price retest 111.0.

USDJPY - H1

Market (55 above 21) is bearish. Price (8 above 5) is bearish. Stochastic is moving sideways. As per my H4 chart, I am waiting for price to break the range and make a lower low and then sell off the role reversal.

2 thoughts on “USDJPY – Sell Entry Trade Plan (23 May 2017)”

  1. Filipe Custódio says:

    If price breaks WM2 it will still be a higher low relative to the previous one, a break of the support around 110.345 with a retest wouldn’t be a better confirmation for a bear? Best regards

    1. Filipe Custódio says:

      I meant “if price goes to WM2”

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