USD/JPY - Bearish situation (5min)
So far 123.13 has proved to be a great support level.
After the last bear trend price broke a major trendline and it has finished a second leg up.
Now I'll wait for price to break the green trend line and take my profits around 122.61 if price action allows it (if nothing opposes meanwhile).
Price now might 123.13 line again, if it fails to break it, wait for a good short setup and take partial profits around 122.96.
The main TP is around the resistance at 122.61
After the last bear trend price broke a major trendline and it has finished a second leg up.
Now I'll wait for price to break the green trend line and take my profits around 122.61 if price action allows it (if nothing opposes meanwhile).
Price now might 123.13 line again, if it fails to break it, wait for a good short setup and take partial profits around 122.96.
The main TP is around the resistance at 122.61
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