USD/JPY
Well, here we have the usd/jpy entering a bearish reaction zone, which could lead to price testing the breakout zone again.
We see that the dxy is within a reaction zone maintaining overbought levels, this could trigger a retracement, thus causing the usd to lose a little strength against the jpy
It is important not to go unnoticed that the usd/jpy maintains an overbought level in a period of 4 hours and below, so the price rebound is very close
Having said all of the above, the prudent thing would be to look for sales by confirmation, although if a risk entry was sought, the ideal would be to do it in the upper part of the OB, in both cases (risk or confirmation) good risk management must be maintained.
We see that the dxy is within a reaction zone maintaining overbought levels, this could trigger a retracement, thus causing the usd to lose a little strength against the jpy
It is important not to go unnoticed that the usd/jpy maintains an overbought level in a period of 4 hours and below, so the price rebound is very close
Having said all of the above, the prudent thing would be to look for sales by confirmation, although if a risk entry was sought, the ideal would be to do it in the upper part of the OB, in both cases (risk or confirmation) good risk management must be maintained.
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