Overview:
USD/JPY has been on a tear, but it’s looking a bit overextended. I’m watching for a potential pullback to around 145.80, where we have some Fair Value Gaps waiting to be filled. This dip could be the perfect setup for a fresh long entry.
Why a Pullback?
- Minor Pullback: We’ve seen a small retrace, but it might not be enough. The market often needs a deeper correction after a strong run-up.
- Bearish Divergence: The RSI is flashing a warning—momentum is cooling off. This divergence often signals a correction is due.
- FVGs Below: There’s a couple of gaps down near 145.80 that price might want to revisit. These gaps often act like magnets in a trending market.
The Plan:
- Short-Term Short: If the price starts dipping, I’m targeting those FVGs around 145.80. I’d place a stop just above the recent high (around 146.30) to keep things tight.
- Long on the Dip: Once we hit those gaps, I’ll be looking for signs of a bounce to jump back in long, aiming for the next leg up.
Markets are unpredictable use stops and manage your risk. This isn’t a guarantee, just one possible play based on the current setup.
USD/JPY has been on a tear, but it’s looking a bit overextended. I’m watching for a potential pullback to around 145.80, where we have some Fair Value Gaps waiting to be filled. This dip could be the perfect setup for a fresh long entry.
Why a Pullback?
- Minor Pullback: We’ve seen a small retrace, but it might not be enough. The market often needs a deeper correction after a strong run-up.
- Bearish Divergence: The RSI is flashing a warning—momentum is cooling off. This divergence often signals a correction is due.
- FVGs Below: There’s a couple of gaps down near 145.80 that price might want to revisit. These gaps often act like magnets in a trending market.
The Plan:
- Short-Term Short: If the price starts dipping, I’m targeting those FVGs around 145.80. I’d place a stop just above the recent high (around 146.30) to keep things tight.
- Long on the Dip: Once we hit those gaps, I’ll be looking for signs of a bounce to jump back in long, aiming for the next leg up.
Markets are unpredictable use stops and manage your risk. This isn’t a guarantee, just one possible play based on the current setup.
註釋
Adjusted stop loss held for a good 50 pipsentered long as anticipated
註釋
Bearish Divergence on the 1h and the 10minlooking at the dxy seems to have failed to create higher high
looking to short for a nice pullback to the previous day high
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