USDJPY: price at the daily mode - bar by bar analysis
USDJPY offers an attractive short trade, as long as it stays under the daily mode level at 119.635.
I'm looking to short under the previous hourly low for the time being, with a very tight stop to maximize returns.
We can place a reverse position above the resistance line, in case it reverses and continues to range. It's a good way to hedge against unexpected volatility.
Will update with an entry.
Update:
Daily roadmap:
If this level doesn't hold now, I suspect we might see some bullish continuation, exploring the upper end of the range.
Said and done...Now, waiting to figure out what to do. Either buy a correction, or sell OS.
I'm looking to short under the previous hourly low for the time being, with a very tight stop to maximize returns.
We can place a reverse position above the resistance line, in case it reverses and continues to range. It's a good way to hedge against unexpected volatility.
Will update with an entry.
Update:
Daily roadmap:
If this level doesn't hold now, I suspect we might see some bullish continuation, exploring the upper end of the range.
Said and done...Now, waiting to figure out what to do. Either buy a correction, or sell OS.
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