The daily is turning down against the March highs at 111.68. The 4 & 1 hour are turning up against 103.14 to correct the cycle from the May highs. While above 103.12 the pair can see strength toward 107.00 before a turn back lower.
Sell @103.85-104
TP: 103.25
SL: 104.20
Good luck !
would you not place the SL halfway up the head? If it gets that far up the formation may have been broken in my opinion
Despite the fact that short positions are considered unsafe, sometimes it is really worth including this in the work, because it is an opportunity to make a quick profit.
The main thing here is not to forget about the risks and to act as prudent as possible.
It is one of the most difficult currency pairs, because the JPY is an independent asset that often does not meet expectations at all.
