• Vasily Trader

USDJPY: Preparing For Bearish Move (trading plan)

Hey traders,

USDJPY recently broke and closed below a support line of a major rising channel on a daily.

Now we see the retest.

On the chart, I underlined a blue area that is considered to be a potential strong zone of supply.

To catch a bearish move, pay close attention to a rising wedge pattern on 1h.

Its bearish breakout will be a trigger for us to short.

First goal will be 110.0

Remember that in case if the price violates a blue area to the upside,

the setup will be invalid.