USDJPY | Trend Change
Updated
Update to prev post.
Based on current market structure, USDJPY seems to have changed its trend falling out of its ascending channel. My prev. thesis stated that I expected to JPY to regain some strength - current price action suggests this is the case.
We can expect price to retest previous all time highs, potentially falling even more.
From an R:R perspective, stacking orders at this level is optimal.
Based on current market structure, USDJPY seems to have changed its trend falling out of its ascending channel. My prev. thesis stated that I expected to JPY to regain some strength - current price action suggests this is the case.
We can expect price to retest previous all time highs, potentially falling even more.
From an R:R perspective, stacking orders at this level is optimal.
Note
A strong close below 23% would be ideal to start this trade off.
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