Market overview, #USDJPY Institutional trading
USDJPY has been bearish for 2 consecutive weeks, it initially broke a previous level of structure at Resistance 110 mark, retail traders would've expected a retest of that zone (broken resistance turn support) for a possible long entry, but then, the price went all bearish without no serious retracement.
Price is back to a support zone (105) which just hit an order block, expecting price to head back up to the untested level of structure at 110 where the institutional candle lie, from the current market price. This would give a possible entry to short the pair also giving a better risk/reward ratio. Would be taking the short entry to finally go clear out liquidity at 105 zone.
Price is back to a support zone (105) which just hit an order block, expecting price to head back up to the untested level of structure at 110 where the institutional candle lie, from the current market price. This would give a possible entry to short the pair also giving a better risk/reward ratio. Would be taking the short entry to finally go clear out liquidity at 105 zone.
