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Oct 30, 2024

Trade ideas

USDJPY: Decline Ahead!

USDJPY, H2

USDJPYH2.png

On the H2 timeframe, USDJPY breached below the trendline and is currently testing the 153.00 support level.

The 9-EMA crosses the 14-EMA down, and the Momentum crosses the 100-line downwards, giving the asset a strong bearish sentiment.

  • Consider a short trade on USDJPY on breaking below the 153.00 support level, with the target at 152.00 and 150.80 support.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Timur Yurdagyul

Author: Timur Yurdagyul

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