USDJPY: Potential Short Setup at Monthly Resistance
USDJPY has been in a strong uptrend, recently consolidating within a rectangle pattern.
Price attempts to hold above the rectangle and potentially challenge the monthly resistance level.
Always practice proper risk management with stop-loss orders
Price attempts to hold above the rectangle and potentially challenge the monthly resistance level.
Always practice proper risk management with stop-loss orders
Comment:
As anticipated, the price action adhered closely to my technical analysis, reaching the predefined resistance level before exhibiting a bearish bounce.