USDJPY Shorts on Daily Resistance — Are We Going Down?

2020-01-12 00:57:46

We hit the daily resistance on USDJPY and are currently short on the pair. Structure is already showing some bearish movement on lower timeframes and we have a possible 4th leg of the Gartley pattern (not shown on the chart).

This trade has a great risk to reward ratio and our targets are based on the Fibonacci Ratio as shown on the chart.

Could we see more shorts come in or is this only a small correction? Share your thoughts below!

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