Potential Sell-Stop level | 07 مارس 2017
07 مارس 2017, USD/JPY
Daily chart: flat corridor of 111.61-114.73 is still valid. So bullish pressure on resistance level at 114.73 is getting weaker.
Н4: more localized corridor is 113.57-114.50. We also see downward Over&Under pattern from 114.50. It enables us to sell with stop-loss above 114.73. This is a nice set-up for intraday trading.
Н1: here we have passive flat of 113.67-114.06. This corridor is not likely to change during the day.
Expectations: either flat in 113.67-114.06 or rise towards 114.50 followed by 100-pip drop.
Solutions: consider placing sell limits from 114.50 with stop-loss at 114.80 and take-profit at 113.50
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
