100% PRICE ACTION
As we can see, usdjpy has broken a very strong structure that it has struggled to break for weeks, bulls tried to step in to break above but were over powered.
Price then tested the area once and bounced off, confirming that bears are in controll. we are now waiting for a second retest at this structure before entering.
Price action is king, nothing more, keep it simple.
DISCLAIMER:
DO NOT TAKE MY ANALYSIS AS THE HOLY GRAIL. THESE ARE ONLY POSSIBILITIES OF THINGS THAT *COULD* HAPPEN AND NOT WHAT WILL HAPPEN!!!
As we can see, usdjpy has broken a very strong structure that it has struggled to break for weeks, bulls tried to step in to break above but were over powered.
Price then tested the area once and bounced off, confirming that bears are in controll. we are now waiting for a second retest at this structure before entering.
Price action is king, nothing more, keep it simple.
DISCLAIMER:
DO NOT TAKE MY ANALYSIS AS THE HOLY GRAIL. THESE ARE ONLY POSSIBILITIES OF THINGS THAT *COULD* HAPPEN AND NOT WHAT WILL HAPPEN!!!