USDJPY Short setup in the making
USDJPY has been trading in a nice range even after US sanctions on Russia.
This has been boosted by safe-haven asset movement characteristics of the JPY.
Currently we can see trading in a slightly bullish channel. The fact that price is now at the top of the channel might give a nice sell setup with a first target the 200 day MA.
Closing another bearish candle on the 1H chart can give extra confirmation.
We'll see how this turns out. BUT if true we are in for a nice R:R ratio!!!
This has been boosted by safe-haven asset movement characteristics of the JPY.
Currently we can see trading in a slightly bullish channel. The fact that price is now at the top of the channel might give a nice sell setup with a first target the 200 day MA.
Closing another bearish candle on the 1H chart can give extra confirmation.
We'll see how this turns out. BUT if true we are in for a nice R:R ratio!!!
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