USD/JPY Short Opportunity 3:6RR
Good evening traders,
I hope the weekend has been enjoyed and you're all ready to tackle another week.
Here we have a short opportunity on USD/JPY for the coming week. now there is a LOT of USD and JPY news this week so be careful as there may be lots of volatility.
• Price is currently overall bearish so we would look for Sell Opportunities.
• Marked with the RED line we see the retail resistance. To bring in the retail buyers we would like to see this line broken to the upside.
• We may see a possible push up to the ‘Key Institutional Level’ Marked in BLUE (round figure SMART MONEY uses when placing orders)
• To take out the ‘Retail Buyers’ the big boys may manipulate the market and push it back down past the marked Supply Zone and towards
the ‘Retail Resistance’
• Before we enter, I would like to see a retracement back into the Supply Zone which is the last move carried out that may take out any
‘Retail Sellers’ who sold on the move down.
• I am aiming to enter around 107.700 following all the steps above play out.
Happy Trading
Note - this is not to be taken as a signal or financial advice.
I hope the weekend has been enjoyed and you're all ready to tackle another week.
Here we have a short opportunity on USD/JPY for the coming week. now there is a LOT of USD and JPY news this week so be careful as there may be lots of volatility.
• Price is currently overall bearish so we would look for Sell Opportunities.
• Marked with the RED line we see the retail resistance. To bring in the retail buyers we would like to see this line broken to the upside.
• We may see a possible push up to the ‘Key Institutional Level’ Marked in BLUE (round figure SMART MONEY uses when placing orders)
• To take out the ‘Retail Buyers’ the big boys may manipulate the market and push it back down past the marked Supply Zone and towards
the ‘Retail Resistance’
• Before we enter, I would like to see a retracement back into the Supply Zone which is the last move carried out that may take out any
‘Retail Sellers’ who sold on the move down.
• I am aiming to enter around 107.700 following all the steps above play out.
Happy Trading
Note - this is not to be taken as a signal or financial advice.
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