usdjpy h8 xabcd short at market TP 126.40

25 Apr 2023

🔸Hello traders, let's review the 8 hour chart for USDJPY today. Speculative XABCD setup
in progress and risk/reward shifted in bears favor after point C was printed at 134.90.

🔸XABCD pattern is defined by point X at 128.35, point A at 136.25, point B at 130.30,
point C at 134.90, and finally point D at 126.40. Expecting correction/pullback to print point D.

🔸Recommended strategy for USDJPY position traders: short at market, stop loss above point C.
Final TP bears is point D at 126.40, risk/reward shifted in bears favor.

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