USDJPY sell trade idea 26 07 2021
SELL USDJPY 110.23
SL: 110.53
TP1: 110.03
TP2: 109.83
TP3: 109.63
Signal Analysis by LCMS Traders
Currency Pair: USDJPY
SELL USDJPY 110.23
Timeframe: H1
Step 1 - Previous News: USD: Flash PMI continued expansion, JPY: Flash Manufacturing PMI continued expansion
Step 2 - Trend: Up to Across, Counter Trend
Step 3 - Support/Resistance: Bouncing Off Resistance Moving Towards Support
Step 4 - Indicators
- Bollinger Bands: both down
- MACD: touch
- Stochastic: H4 heading into over sold
- PSAR: bearish
Step 5 - Upcoming News: USD: New Home Sales 2200hrs, JPY: -
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