Forex Indicator | Best Forex Signals - September 24, 2019 Past Support Turn Into New Resistance
Past Support Turn Into New Resistance
I have posted yesterday that the USDJPY has hit a major support on the 4 hourly chart but after that, it manages to break below it and we manage to make some profits from the down move as well
Once the price breaks below the 200 EMA, we entered a trade and take profits 45 pips. For those of you in my trade copier service, you will see this trades on your account as well.
If you take a look at the USDJPY 4 hourly chart below, you can see that it had broke below the 3 EMA and now the 3 EMAs has turned into new resistance for this pair
For today, you can look for opportunity to go SHORT but I am not saying that you can enter SHORT now. You will need to follow your strategies and wait for a good SELL signal before you enter the trade
The price had moved up to test the 200 EMA new resistance which is indicated by the BLUE EMA in the picture and moved down.
This is a good sign of a down move.
I will wait for a good opportunity to SELL the USDJPY today if it occur.
For those of you who are interested in my trade copier service, you can click on the link below for more info
