USD/JPY - sell on 4H & 12H - how to trade
market price reached again the long term resistance trend line and 200 day moving average (red line) after todays market opening shakeout in reference to the attack on oil productions places in Saudi Arabia.
If the market doesn't close with two 4 hour candles above the trend line we can expect first sideways sell order consolidation and after this we can expect a sharp down movement as drawn in the chart.
If two or more 4 hour candles close above the trend line this setup is invalid because the market is turning more bullish after that.
If the market doesn't close with two 4 hour candles above the trend line we can expect first sideways sell order consolidation and after this we can expect a sharp down movement as drawn in the chart.
If two or more 4 hour candles close above the trend line this setup is invalid because the market is turning more bullish after that.
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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