• Vasily Trader

USDJPY: Our Trading Plan to Sell

If you saw my previous post on USDJPY , then you know that an important decision is ahead.

The price is approaching a year's high. Depending on the reaction to that structure,

we will either see a strong bullish wave or a pullback.

To catch a pullback, follow a rising parallel channel on hourly.

Once the price touches the underlined potential reversal zone,

wait for its breakout (1H candle close below the support).

Then sell with your first goal - 110.550

Remember that in case if we close above the yellow structure on a daily,

bullish continuation will be expected.