Lingrid | USDJPY pullback TRADING opportunity

٧ سبتمبر

USDJPY has tested the resistance zone at 140.000 multiple times, resulting in several bounces. After two attempts to break through this resistance, it formed a double top pattern, leading to a new extension low. Instead of updating its recent highs, the market made an impulsive move downward. On the weekly timeframe, an engulfing candle was formed, indicating a potential continuation in the market. Additionally, the price broke and closed below the key level of 144.000, which had been respected numerous times. I anticipate a retest of this level and the upward trendline before a subsequent decline. My goal is to support level at 140.800


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

١١ سبتمبر

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Easy 290 pips