USDJPY - Trading Idea ( Short Trade 380 PIP )

3 mar 2024

🎗️Pair of Name : USDJPY ( U.S Dollar /Japanese Yen )
🕞Time Frame : 4H
✔️Direction : Short
➕Type : Y High / Liquidity Lows
🎓Educational setup.
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As we can see, prices been consolidating In a ( Channel band ) in a upwards move. And now price has broken the trend line. And retested it. This would be a clean buy after retest of the Channel band This move is also supported by volume profile, as most of the volume is down at the lower levels. On the daily time frame we can also see a lot of small Wicks being put in the market. After prices hit this supply zone. This zone is also a resistance level and it has been it for over 504 days!
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🗨️before you take this trade or take just my word, remember, risk management always 1 : 3. And take profit on the way up to the target!

3 mar 2024

Uwaga

NEWS 04.03.24 📅: The Tokyo Consumer Price Index (CPI), released by the Statistics Bureau of Japan on a monthly basis, measures the price fluctuation of goods and services purchased by households in the Tokyo region. The index is widely considered as a leading indicator of Japan’s overall CPI as it is published weeks before the nationwide reading. The gauge excluding food and energy is widely used to measure underlying inflation trends as these two components are more volatile. The YoY reading compares prices in the reference month to the same month a year earlier. Generally, a high reading is seen as bullish for the Japanese Yen (JPY), while a low reading is seen as bearish.