USDJPY SELL TRADE IDEA 26 04 2021

#OPINIONLEADER#

SELL USDJPY 107.69

SL: 107.99

TP1: 107.49

TP2: 107.29

TP3: 107.09

*Trading conditions may differ between account types and brokers.

Author: LCMS Traders

Signal Analysis

Currency Pair: USDJPY

Timeframe: H1

Step 1 - Previous News: USD: Flash PMI data expanded at fastest pace, New Home Sales data highest level of new home sales, JPY: -

Step 2 - Trend: Down, Trend Following

Step 3 - Support/Resistance: Breaking Through Support

Step 4 - Indicators

- Bollinger Bands: within

- MACD: both down

- Stochastic: H4 heading down

- PSAR: bearish

Step 5 - Upcoming News: USD: -, JPY: Monetary Policy Statement tomorrow at tentative time