USDJPY LONG
Disclaimer: This trade idea is for educational purposes only and is not intended to be financial advice, this trade idea is based around my own opinion and analysis and I will not be held responsible for any lost capital resulting from trades taken based on this trade idea, the risk is entirely on you and you agree that I will not be held responsible.
USDJPY has been in a downtrend for the last couple of years, we have our descending channel as shown by our upper and lower trendlines, this pair is quickly approaching liquidity pool as indicated by my red rectangle that I have placed on the chart, this leads me to believe that once price enters this red rectangle, I will be looking for reasons to long this pair as I feel many eyes are on that particular area since it is in fact a liquidity pool , which could be a holding area for many long position orders.
If you find this idea useful please do leave a like and comment as i would highly appreciate that, Thank you for your time and a very HAPPY NEW YEAR TO EVERYBODY :)
USDJPY has been in a downtrend for the last couple of years, we have our descending channel as shown by our upper and lower trendlines, this pair is quickly approaching liquidity pool as indicated by my red rectangle that I have placed on the chart, this leads me to believe that once price enters this red rectangle, I will be looking for reasons to long this pair as I feel many eyes are on that particular area since it is in fact a liquidity pool , which could be a holding area for many long position orders.
If you find this idea useful please do leave a like and comment as i would highly appreciate that, Thank you for your time and a very HAPPY NEW YEAR TO EVERYBODY :)
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