USD/JPY
we have reached the 61.80% on our fib
monthly resistance is close to this level also around this level we have seen previous rejection.
this week we will most likely looking to be finishing with a doji or a bearish candle.
with this if we get another bearish candle for next week we will have formed a morning star which indicates a sell.
with all these confluences; 61.8% fib , resistance, (potential morning star) I am going to sell this pair. the other indication I will look out for after I have entered this trade is the cross over of the M.A's
entry - 113.700
stop loss - 115.500
Take profit - 104.300
monthly resistance is close to this level also around this level we have seen previous rejection.
this week we will most likely looking to be finishing with a doji or a bearish candle.
with this if we get another bearish candle for next week we will have formed a morning star which indicates a sell.
with all these confluences; 61.8% fib , resistance, (potential morning star) I am going to sell this pair. the other indication I will look out for after I have entered this trade is the cross over of the M.A's
entry - 113.700
stop loss - 115.500
Take profit - 104.300
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