USDJPY, 1D Swing Trade Setup

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USDJPY, 1D Swing Trade Setup​

US Dollar / Japanese Yen CAPITALCOM:USDJPY
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USD/JPY is showing a bearish bias, with price moving within a clear descending channel and facing repeated rejections at key resistance levels. The impulsive move down signals a CHoCH.

The RSI is turning lower, while the MACD-Signal Line crossover signals downward pressure. Together, these indicators add confluence to a potential short setup.

The key is confirmation: watch for a BoS to enter. A favourable candlestick entry pattern would add further confluence.

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Disclaimer: This content is for educational purposes only and does not constitute financial advice.