USD/JPY | Price action trading by Keon Consultancy | Feb 24, 2020
USD/JPY seemed to be slowly coming down which looked like a minor retracement until opening of US stock market today, thus it looked like USD/JPY may show significant retracement only after it reaches 112.40 areas as illustrated in USD/JPY analysis by Keon Consultancy | Feb 21, 2020
But, after opening of US stock market today, USD/JPY broke not only average but also max length range of H1 candle, so we entered sell as per Price Action Trading style. USD/JPY may come to immediate support (see screenshots) and may still continue to upside and touch 112.40.
Here is how we entered sell and what we see on H1 & D1/daily time-frames: