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thejohn74

UJ short double resistance after two legs up

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USA-dollar/Japansk yen (FX:USDJPY)  
thejohn74 Uppdaterad   
FX:USDJPY   USA-dollar/Japansk yen
usd_jpy
4
4
usd_jpy
We're at a horizontal resistance level and a long term trendline. We also just made two legs up from a prior congestion area. It may be a good idea to wait for a confirmation candle at least on a 1h, but i think its a good bet to short here , risking about 70-80 pips and aiming for a test down to 108.
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We're at a horizontal resistance level and near a long term trendline. We also just made two legs up from a prior congestion area. It may be a good idea to wait for a confirmation candle at least on a 1h, and the market MAY try to get closer to the TL, but i think its a good bet to short here , risking about 70-80 pips and aiming for a test down to 108.
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