• Vasily Trader

USDJPY: Key Level & Your Plan to Short

Hey traders,

USDJPY reached a year's high.

Being a major key level, we will try to catch a pullback from that.

111.6 - 111.8 is our potential reversal zone.

The confirmation that we are looking for is a bearish violation of a rising parallel channel on 2H time frame.

That will be a trigger for you to short.

First support will be 110.84

In case of a bullish breakout of the underlined structure on a daily,

the setup will be invalid and further bullish continuation will be expected.

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