USDJPY I What's Next ?

2020年11月7日

Hello friends,
thank you for taking the time to read my analysis, please like and comment below, it means a lot

as we can see USDJPY looks interesting

the US dollar losing its strength with each bit of news confirming Biden closer to win the white house.

on the monthly timeframe
we can see that the support level which was holding the price for 3 times got broken | also we have a bearish pressure to the downside so we gonna look for sell opportunities on this pair

on the daily timeframe
the market structure is more clear

we have to wait the price to comeback and re-test our broken support level to confirm our perspective

- we will look for sells only
- wait for a clear confirmation to make sure that the price will keep going to the downside
- all we have to do is --> go down to the 4H timeframe
and look for a clear rejections from the broken level then we gonna Enter a short trade

Don't forget to follow money management

this is a great trade with 1:10 RRR

Please Note This Is Just a Prediction and I Have No Reason to Act on It and Neither Should You

good luck everyone 👀