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.