Beware of the USD JPY resistance level. An example of Buy side

29 авг. 2022 г.

Many traders will be interested to trade the new reached resistance level on USD JPY. It might be a very attractive level to place an order but unfortunately

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  It can be also a honeypot type of trap.
  On a Smart Money perspective that area just above the multi days resistance level is a liquidity area. That liquidity is potentially harmful for short traders as a breakout of that level can lead to a new higher high than can trigger many short side stop losses. Eventually it can catch as well take in a swing buying orders. BE CAREFUL;)