USDJPY - Near Resistance, Looking For a Sell Signal
Hello Traders! How is your trading so far? In this post I am going to show you my view on the USDJPY pair.
As we can see on the picture above, there is a bearish divergence shown by the indicator. The price is currently around 109.30 level, which acts as a strong resistance. Divergence pattern near S/R level usually shows a reversal signal. So because of this reason, I personally prefer to SELL this pair, targeting 108 level. This is my plan for this week. Since we are using Daily chart, we need to give more time for the price to move.
I hope this post will help you to prepare for this week of trading. Do not forget to manage your risk and use good risk-reward ratio.
Good luck, Happy trading!
Rico Ferdinand Yapotra