USDJPY WILL THE BEARISH CHANNEL CONTINUE OR BREAK?

6 May 2017

Hi everyone, I'm a USDJPY trader and this is my first post on here.

We have been in a Downtrend from some time now with Lows found at 108.130 level...
This recently rally could be a correction from the downward move.
Channel has already been respected when prices tested 113.000 Resistance on Thursday...

There are two ways to play this: Watch for clear break of channel price wise we will carefully be looking at 113.000
A solid close above (Possible Retest of 113.00) we will want to target 115.500 to the upside which serves as the next major resistance...

I personally have a bearish bias with USDJPY we will be looking to target 108.130 ounce again ounce I get a clear confirmation of bearish
sentiment... We may get possible retest of 113 going to watch PRICE ACTION there if prices decided to move up there.

Conservative setup will be a break below 112.000 to ENTER SHORT and ride it down from there...

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COMMENT WHAT YOU THINK BELOW...
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9 May 2017

İşlem aktif

We got a break of 113.00 and Retest Price is currently in 60 +PIP PROFIT... FEEL FREE TO TAKE PROFIT NOW OR MOVE SL TO HAVE A RISK FREE RIDE...

AS LONG AS WE STAY ABOVE 113.000 WE SHOULD BE GOOD TO BUY ON DIPS...

BREAK BELOW 113 WE WILL CONSIDER SHORTS...

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10 May 2017

Not

HIGHS HAVE BEEN FOUND AT 114.325 WHICH SERVES AS 1.272 EXTENSION...

THE DAILY CANDLE CLOSED BELOW 114 (PSYCHOLOGICAL LEVEL)

CURRENT VIEW IS IF A NEW HIGH IS NOT FORMED ABOVE TUESDAY HIGH @114.325
WE ARE GOING TO GET BEARISH MOMENTUM...
WAITING FOR BREAK BELOW 113.620 TO SELL...