Hi traders, usdjpy is forming bear flag for continuation to the downside toward demand zone. ( check below daily chart). JPY index is showing nice possibility to reverse to the upside and DXY is still showing bearish control over price, i think that dolar will break lower its just making pullback and correction. So keep an eye on usdjpy becouse its showing nice possibility for big wave to the downside. Stay patient!
Kommentera:
Daily chart is showing demand zone, which pushed price up many times in past. So same think is expected now.
Kommentera:
Nice bearish impulse on 4h, and price is making correction now. Watch it to make new high in that correction and reverse
Kommentera:
Lets see if this trendline will hold price and push it lower
Kommentera:
We are having possible price action, i want to see strong breakdown. Dxy looks like it will push lower soon, i hope to see Jpy start pushing higher soon
Kommentera:
As you see price rejected on upper trendline and made bearish impulse for downside, lets wait for possible pullback (abc correction) to confirm that move and give us nice RR ration for entry.