Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
USDJPY – Bullish With Corrective Price Action At Highs
My current active open trades: AUDUSD, AUDCAD, AUDNZD, US Copper
USDJPY – Bullish With Corrective Structure At Highs, But Potential Weakening (4hr chart)
Gaining almost +700 pips in the last month, the USDJPY has formed a corrective structure just below the key resistance around 115. There is some potential weakening in this structure with a failure to make new highs.
For now ST bulls have some bids/support around 113 and the ST RRL around 111.38. A daily close below here means likely some MT stops tripped.
Clearing the yearly highs has challenges above 115 so am considering a short on a potential false break.
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