USD/JPY: Possible new short positions with the declining trend, but only if the price goes below 106.80 and we have a closed bar below that level on 4-Hours chart. Then we will have enough confirmations for a sell.
Position with the direction of the movement – SELL
Price action signal – possible pin bar or other negative formation, when the price crosses below 106.80.
Divergention between price and indicator, which shows us, that the current short-term movement might be not supported by the strength of the market.
Short only after a close of a pin bar on 4-Hours chart below 106.80
On Daily chart the medium-term movement is also short, and again we have divergension and the price is under the main resistance, ex-support at 107.29
Stefan Angelov - Head of Stocks Trading
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