Usdjpyintraday
USD/JPY ICHIMOKU ANALYSIS (BEARS/BULLS)On the Daily Chart, Tenkan-sen line is above the Kijun-sen line. Red-line is horizontal, while blue line is directed downwards. Confirmative line Chikou Span is crossing the price chart from below, current cloud is descending.
Instrument is trading below Tenkan-sen and Kijun-sen lines; bearish trend is still strong. One of the previous minimums of Chikou Span expected to be a support level (100.50). The closest resistance level is Kijun-sen line (103.50).
Recommended to open short positions @ current price with TP at the level of previous minimums of Chikous-span line (100.50) and SL @ the level of Kijun-sen line (103.50)
USJPY m15 Short Trade - still activeBeen posting this in the Chat all afternoon.
Short hit at 108.45 this afternoon in USDJPY, still active and holding on to it at least until tonight's close. Will then decide whether to hold over weekend.
Trendfollowing works even on such a low timeframe. Of course profit potential very limited in daytrading.