Description :
Looking at the H4 chart, my overall bias for USDJPY is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market structure. Looking for a pullback sell entry at 130.018, where the overlap resistance and 38.2% Fibonacci line is. Stop loss will be at 131.115, where the recent swing high is. Take profit will be at 127.215, where the previous swing low was.
Trading Recommendation
Entry: 130.018
Reason for Entry: Where the overlap resistance and 38.2% Fibonacci line is
Take Profit: 127.215
Reason for Take Profit:
Previous swing low
Stop Loss: 131.115
Reason for Stop Loss:
Recent swing high