Heads up! Price on USDJPY is approaching a long awaited supply level on Daily timeframe.
Sell at highlighted supply level. 112.400 Click To Tweet
Take profit should be 160 pips.
Stoploss needs to be at the other end of supply level plus few more i.e. about 70 pips away from your position. A very good risk to reward ratio. This is an Alpha setup which has all the ingredients of a perfect supply level.
Do keep an eye on this one on next market open. If we are going to get a similar gap on prices as last week, then we are pretty sure that price would already be sitting at our supply level.