USDJPY is trading within a clean falling channel, maintaining a bearish structure with lower highs and lower lows.
Price is currently hovering around the upper bound of the channel ā a key area where sellers tend to step in.
As long as this resistance holds, the plan is straightforward š
We will be looking for trend-following short setups, aiming to ride the next move lower within the channel.
Trend is bearish. Structure is respected.
Sell the highsā¦ until proven otherwise.
Will sellers defend this zone again?
ā ļø Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
š Stick to your trading plan regarding entries, risk, and management.
Good luck! š
All Strategies Are Good; If Managed Properly!
~Richard Nasr