USD/JPY with Leonid Vereschagin

By Leonid Vereschagin, independent trader and analyst

Technical analysis [USDJPY]  06.03.2014

Chart 1. Daily USD/JPY

USD/JPY is flat within the longer-term uptrend. The pair has formed the true sideways move (2 highs, 2 lows). The trading range is 101.40-102.70. At the moment the rate is in the upper part of the range, near 102.70. From this level we plan entering a short position.

Chart 2. H4 USD/JPY

At H4 we see the range in greater detail. RSI8 shows that the pair is overbought.

SELL:  102.50-102.70

Stop Loss:  103.20

Take Profit: 101.50

Chart 3. H1 USD/JPY

Conclusion:  sell-signal is confirmed.

Scroll to top