Hi traders!
As our last entry for the week (for a total of 3 including this one) we are now up a little over 300 pips!
Analysis of this pair is coming off what is happening everywhere else.
DXY made yet another 12 month low
Gold made yet another 3 month high
This pair broke again support today
Closing under our FIB drew a month ago approx
We got confirmation of that divergence
MACD faked the hell out of everyone!
For all those reasons, we are heading lower on USDJPY. We already opened a short, here are the details :
USDJPY SHORT:
ENTRY : 108.644
SL : 199.456
TP 1 : 106.866
TP 2 : 105.631
Trade safe!
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.