In this analysis we're shorting the pair US dollar against the Japanese yen, Different Timeframes are put in consideration where
M60 Chart Indicates an Overbought Price action which needs a correction (only if it reaches our selling zone area in OB condition)
H4 Chart Indicates Dynamic Resistance which price is expected to reverse
whereas, on Daily Chart price is ranging in between 50% zone of monthly Swing (In this case market usually correct itself to gain a constant momentum) check out our EURUSD Analysis to understand about this scenario,
More updates will be posted under this thread, have any doubts? then, let us know in the comment section below and make sure to give this analysis a Thumbs UP +_+
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1.618 Fibonacci extension on recent swing (Major Reversal Level) plotting Sharply at our selling zone!
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Yesterday US Stock suffers whereas Yen remains the same resulting in an early drop on USDJPY Similar movement was seen in SPX500 analysis that we posted earlier Shorting the asset from heavy resistance
For USDJPY it's now Filling the Market gap and if it still reaches our Selling zone with a positive Overbought ratios then we'll short it accordingly!
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Order has been placed and Trend is getting so much stronger Let's see if it will reverse accordingly
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UPDATE INCREASE SL to 112.154
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US Dollar gaining strength and it's hard to Identify the next stop based on Technical STOP HIT of (-50 PIPS) for those who remained at same position (-30) Recovery Trade will be placed sooner!