USD/JPY SELL
In the weekly and daily time frame I can see that the price is in a downtrend.
I can see that the price is respecting the pink trend line and the interacting points are shown by the golden ellipses.
From the hourly time frame I can see that the price has broken above the Dark Green trend line, bouncing back to the trend line and then increasing to a resistance level.
By this I can tell that the price is rising and will continue to increase until it hits the Pink trend line. Once the price reaches the Upper Pink trend line i expect the sellers to take control and decrease the price until it reaches the lower Pink trend line. This movement is shown by the grey path that I've drawn.
I can see that the price is respecting the pink trend line and the interacting points are shown by the golden ellipses.
From the hourly time frame I can see that the price has broken above the Dark Green trend line, bouncing back to the trend line and then increasing to a resistance level.
By this I can tell that the price is rising and will continue to increase until it hits the Pink trend line. Once the price reaches the Upper Pink trend line i expect the sellers to take control and decrease the price until it reaches the lower Pink trend line. This movement is shown by the grey path that I've drawn.
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