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Hello fellow traders,
Today I have spotted a probable sell setup forming in USDJPY at the confluence of the 61.8% retracement of the fall from the high of 17 Nov 15 and low of 24 Jun 16 and the horizontal support at 114.30 levels which is likely to turn into good resistance level. So here we may see some price action and a sell set up may form. But i will look for a very strong bearish engulfing or the pinbar candle to enter a trade as the ongoing momentum on the upside is huge.
As of now there …
Today I have spotted a probable sell setup forming in USDJPY at the confluence of the 61.8% retracement of the fall from the high of 17 Nov 15 and low of 24 Jun 16 and the horizontal support at 114.30 levels which is likely to turn into good resistance level. So here we may see some price action and a sell set up may form. But i will look for a very strong bearish engulfing or the pinbar candle to enter a trade as the ongoing momentum on the upside is huge.
As of now there …