USDJPY – Corrective Structure Breaks, Still Short | Jun 20

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Chris Capre’s live open price action and ichimoku trades: GBPUSD, NZDJPY, USDJPY, USDNOK, CAC40, VIX

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USDJPY – With Trend Corrective Structure Breaks Lower (1hr chart)

Price Action Context

Yesterday in our daily trade ideas, we talked about the bearish trend and corrective structure in the USDJPY and that a break of the structure would likely communicate the next leg in the price action.


This is the exact same trade I’m in which I shared this live trade in my latest video {See Below}.


Today the USDJPY broke below the corrective structure, pulled right back to it for a great breakout pullback setup, then continued lower.

Trending Analysis

With an impulsive bearish leg leading into this large corrective structure, which has continued with another impulsive leg down, I’m bearish ST and looking for new possibilities to sell.

Key Support & Resistance Zones

R: 107.87, 108.81

S: 105.87, 104.75

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