Hello traders. On this 4H analysis of USDJPY, we have a recently tested resistance level that showed strong rejection in the 115.430 region. This level is currently being retested and a good entry reason for this short position would be the confirmation of a trend reversal pattern such as a double top, triple top, etc. Upon confirmation of a reversal pattern, the projected target would be in the 114.350 region.
Order cancelled
This setup has been invalidated. There was no resistance at the previously tested level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.