USDJPY - Daily Time Frame
Marked up zone indicates a potential area of interest for a short.
Yesterday's and today's daily candle sitting at a resistance level of 108.950.
Price action ranging in this zone, corrective after a impulse move in May 2019, still within it's downward trend.
This could potentially give a nice 130 pip move for a triple bottom touch of the trendline.
{purple arrow} If daily candle was to break about 109.000 and close, we could be looking for the bulls to take this all the way past 110.000+
* This profile is for educational purposes ONLY!
* The trade idea given is my own perspective of the Forex market and by no means require action!
* Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!
Marked up zone indicates a potential area of interest for a short.
Yesterday's and today's daily candle sitting at a resistance level of 108.950.
Price action ranging in this zone, corrective after a impulse move in May 2019, still within it's downward trend.
This could potentially give a nice 130 pip move for a triple bottom touch of the trendline.
{purple arrow} If daily candle was to break about 109.000 and close, we could be looking for the bulls to take this all the way past 110.000+
* This profile is for educational purposes ONLY!
* The trade idea given is my own perspective of the Forex market and by no means require action!
* Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!