Using technical analysis is not so easy. JPY pairs can be very tricky but this time using past performance and current market conditions we can see interesting bearish setup on USDJPY.
I am bearish last several weeks and I plan to add one more sell trade around 113 (green line).My first target is 109.49.
My stop loss is around 114.25.If I see daily close above this level I will give up from this trade.
Important thing is that I need to wait for current bullish divergence.We can see one push high before drop.
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