USDJPY – False Break Setup Creates Sell Trade | Oct 20
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.
Having trouble with emotions and making good trading decisions? Read my latest article on how sleep could be affecting your brain & performance.
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.