USDJPY Short position Idea
By breaking down the monthly, weekly, daily and 4 hourly Support and Resistance levels, we notice that 108.300 (a psychological number) which is a key support area in the past could be broken.
If Price breaks below my trendline (red downwards trend) and 108.300, this could be a good shorting position as key numbers were broken, price fell beneath the trendline, and previous support now becomes a resistance level.
Around a 50 pip gain with a 13pip stop loss, let's see what happens this week!
If Price breaks below my trendline (red downwards trend) and 108.300, this could be a good shorting position as key numbers were broken, price fell beneath the trendline, and previous support now becomes a resistance level.
Around a 50 pip gain with a 13pip stop loss, let's see what happens this week!
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