Chart of the Day USDJPY

USDJPY is retesting the hard broken resistance level

USDJPY is retesting the previously broken hard resistance level 106. This retest is opening a possibility of further downside extension in the case of a rejection. Only a daily close above 106.200 could invalidate a downside extension and that is where the stops for the short trades should be. ARMAT trading system is neutral to short 

Note: look for the short trade opportunities with the stop loss above 106.200 on this retest

 

 

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