Closing USD/JPY earlier with a minor loss of -25 pips/-0.7% wa | Investroy School of Psychology

Closing USD/JPY earlier with a minor loss of -25 pips/-0.7% was the right thing to do, as the price would have hit our Stop Loss anyway. However, the price was not able to stay longer above the broken resistance zone, and a powerful bearish candle was printed, pushing the price back into the sideways moving range. We will be monitoring the price action around the local area of resistance, and looking forward to opening another SELL position if the local zone of supply is respected, multiple confluences line up, and our entry criteria is met