USDJPY Short (Moderate - High Risk Idea)
- Before anything, I would like to say the less aggressive way to take this position in my opinion would be to wait for this to break and retest the lower high/previous resistance, as shown in the chart.
- RSI oversold on 1H time frame
- Most likely will need to correct on the 4h timeframe, possibly to the 20 period moving average on 4H (again, high risk unless you wait)
- Pair may reject the area of interest, as shown on the chart. This is a big resistance on 4H time frame (I show this chart on 1H, so you may have to open up the chart yourself to see the full credibility of the resistance).
- Additionally, I am taking this position because fundamentally, in my opinion, USD isn't looking as strong as JPY.
- RSI oversold on 1H time frame
- Most likely will need to correct on the 4h timeframe, possibly to the 20 period moving average on 4H (again, high risk unless you wait)
- Pair may reject the area of interest, as shown on the chart. This is a big resistance on 4H time frame (I show this chart on 1H, so you may have to open up the chart yourself to see the full credibility of the resistance).
- Additionally, I am taking this position because fundamentally, in my opinion, USD isn't looking as strong as JPY.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.