USD/JPY Bearish Alt Crab Pattern
Short opportunity for USD/JPY. Inevitably with the DXY in
free fall USD/JPY is also being dragged down. Whether this
move down is merely a correction or a bearish trend
continuation we will have to wait and see, for the moment
at least it is bearish.
There is also not much economic news relating to the USD
left this week, thus, no immediate halt to the downside. A
close below 108.112, last weeks low, would indicate a
bearish trend continuation, targeting the 104.00 levels
below and lower.
Trade 1 short (RvR ratio 2:1)
Entry: Close below 10 SMA (blue line) or below 109.866
S/L: 110.518
T/P 1: 109.444
T/P 2: 108.935
Trade 2 short (RvR ratio 2:1)
Entry: Close below 108.935
S/L: 109.347
T/P 3: 108.573
T/P 4: 108.112
As always, scale out your profits and adjust your stop/ loss
to suit personal risk management profile.
Happy trading
free fall USD/JPY is also being dragged down. Whether this
move down is merely a correction or a bearish trend
continuation we will have to wait and see, for the moment
at least it is bearish.
There is also not much economic news relating to the USD
left this week, thus, no immediate halt to the downside. A
close below 108.112, last weeks low, would indicate a
bearish trend continuation, targeting the 104.00 levels
below and lower.
Trade 1 short (RvR ratio 2:1)
Entry: Close below 10 SMA (blue line) or below 109.866
S/L: 110.518
T/P 1: 109.444
T/P 2: 108.935
Trade 2 short (RvR ratio 2:1)
Entry: Close below 108.935
S/L: 109.347
T/P 3: 108.573
T/P 4: 108.112
As always, scale out your profits and adjust your stop/ loss
to suit personal risk management profile.
Happy trading
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