USDJPY Critical Zone Provides Sell Opportunity

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USDJPY Critical Zone Provides Sell Opportunity

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Hi Traders! USDJPY critical zone provides sell opportunity for us. In the below video you will find a detailed explanation of this sell opportunity:

 

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USDJPY D1 Chart:

On the daily chart the price is moving inside a channel, this channel is formed by the uptrend line and an alternative trend line. The price which is respecting this channel so far is currently nearing the top of this channel. We also have a significant level at around 114.60 and the fibo levels of the cycles also coincides with the top of this channel thus forming a critical zone for us. We may now expect the price to move higher and reach this critical zone with bearish divergence to form. We may now look for more evidences of bearish pressure on lower timeframes in order to join the bears.

USDJPY Critical Zone Provides Sell Opportunity

 

USDJPY H4 Chart:

On the H4 chart we have multiple false breaks and bearish divergence which we may consider as evidences of bearish pressure. Everything looks good here for the bears, we may now look for more bearish evidences in order to start looking for sells.

USDJPY Critical Zone Provides Sell Opportunity

Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.

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Regards,

Yordan Kuzmanov
Chief Trader at Traders Academy Club

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