With both RSI(14) and MACD(12,16,9) sloping downwards and the upward trend-line recently having been broken while prices are not moving any higher over the last two weeks, there is a possibility that USDJPY will continue its downtrend towards the previous area where supports became resistances between 109.500-109.900. Tight stop loss above the high of a previous engulfing candle meaning that the R:R ratio remains high at 1.66 which makes the trade worth considering.
What do you think then?
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Things to remember:
- Trade with care
- Do not overtrade
- Only overtrade when you want to see the market hit your stop and then reverse back in the direction of your initial position.
What do you think then?
-----
Things to remember:
- Trade with care
- Do not overtrade
- Only overtrade when you want to see the market hit your stop and then reverse back in the direction of your initial position.