USDJPY Local S/R| Swing High| Price Action| Trend

14 apr. 2021Evening Traders,

Today’s analysis – USDJPY – trading at intra-day S/R after an impulse sell, further correction is probable,

Points to consider,
- Price Action Impulsive
- Local S/R Support
- Oscillators Extended
- Low Volume

USDJPY’s immediate price action is impulsive, breaking the intra-day S/R allows for a short bias.

The current objective is the Local S/R, price has a greater probability of respecting this current level.

Both oscillators are extended, remaining in their bearish control zones is indicative of weakness.

Immediate volume profile is significantly low, an influx is highly imminent when an expansion occurs.

Overall, in my opinion, USDJPY is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee