Dollar Yen Prepares to go Short
Simplicity is always the best policy.
Earlier this week the Dollar Yen Pair has been bounce off the previous support level @ 104.34.
The pair has come to a point of challenging the first resistance - the 20 EMA AND also at a mini resistant level at 105.40
Also we can note the RSI was at the level of > 90 (indicating a potential oversold condition)
If the pair dint close above today's high;
Short position would be suggested.
Conservative traders can wait for a "confirmation signals" - usually the end of the next candle and if that candle did not close above previous day high. It validates the trade and can enter for a short position.
Stop Loss level wound be suggested at today's high or previous swing high.
Earlier this week the Dollar Yen Pair has been bounce off the previous support level @ 104.34.
The pair has come to a point of challenging the first resistance - the 20 EMA AND also at a mini resistant level at 105.40
Also we can note the RSI was at the level of > 90 (indicating a potential oversold condition)
If the pair dint close above today's high;
Short position would be suggested.
Conservative traders can wait for a "confirmation signals" - usually the end of the next candle and if that candle did not close above previous day high. It validates the trade and can enter for a short position.
Stop Loss level wound be suggested at today's high or previous swing high.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.