USDJPY – False Break Setup Creates Sell Trade | Oct 20

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USDJPY – False Break Sets Up Sell Trade (4hr chart)
After forming a false break setup last week below 118.65, the USDJPY is pushing higher towards the top of the range which is the expected play in this scenario.

I’m anticipating a move back into the resistance + sell zone between 120.45 and 121.60 and will look to get short there. Only a daily close above the range highs would negate my bias.

Downside I’d be targeting 119.60 and 118.75.

usdjpy price action 2ndskiesforex

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