Over the past month, growth slowed in USD / JPY, as a result of which a bull trap was formed at 108.3:
This means that buyers have nowhere else to hide their risks, except behind the level of 108.3.
And last week, the pair closed with a decline, which, in turn, formed a short initiative in the charts. Now, a third wave is developing, and its main target is to break through 108.3. For this to happen, traders should enter short positions, or not put risks over 108.3 when opening long positions.
These follow the classic and trusted Price Action and Stop Hunting strategies,
Good luck!
