USDJPY - Clear Structure - Pullback Trading Chance

2019-12-13 03:37:51

Hi Traders!
The market is moving in very clear movements.
After it changed the side and 2nd December, it moved until the support at around 108.500.
After that it started consolidating in a descending triangle.
The upper trendline tilts down towards the support.
Today at 3pm GMT it got exploding pressure upwards and then it reaches the resistance area again.
Now it lost its price action and it have to make a pullback.
Furthermore, the stochastic is overbought too.
We recommend to sell the pullback towards the area of breakout.

Thanks and good luck :)!