USDJPY SELL OPPORTUNITY
The daily chart, price seems to be in a range and even though price hit its monthly bullish profit target and came back to MPP (pivot theory of the counter trend trade), it could still move lower to the bottom of the range with all the dollar weakness that we have been seeing lately.
H4 chart , price is currently at WM2 which is where bulls want to enter but it seems we are in a down trend and the trend is your friend so you wouldn't want to trade against all the dollar bears that have been selling USD in the past weeks. so as a bear i want to see price move up so i can sell high at WPP resistance
H1 shows a better representation of our downtrend at the moment on this timeframe with the EMA above price and and price action having made a lower low. i will be waiting for a pull back and selling at role reversal/ WPP/ FIB level.
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About The Forex Analyst
Graduate in Bcom Human Resources Management. I am a full time Currency Trader and Market Analyst using technical and fundamental analysis, I have been trading in the Forex market since 2016. I am also a part time student at the University of Johannesburg studying Finance and Investment Management. I am always looking to learn and improve my skills as a professional, consistent and successful Trader & Investor for above average returns and a better understanding of the financial industry and financial markets.