SELL USDJPY H4 | FOREX BEE
Hey Traders,
This USD/JPY H4 chart appears to show a descending triangle formation, typically signaling a bearish continuation pattern. The key levels and considerations are:
1. Trend Analysis:
- The market seems to have broken the ascending trendline (blue) decisively, suggesting strong bearish momentum.
- The price is currently trading below key resistance zones (highlighted in red).
2. Fibonacci Level:
- The 0.618 Fibonacci retracement (155.01) was tested but failed to hold, further indicating bearish strength.
3. Target Zones:
- A bearish move toward the next demand zone near the 0.236 Fibonacci level (~151.18) appears likely, as marked on the chart.
4. Retest and Continuation:
- The blue arrow suggests a possible retest of the broken support-turned-resistance zone before continuing downward.
### My Thoughts:
The chart indicates bearish bias, with the next likely target near 151.18. However, monitoring the retest area closely for rejection signals to confirm the continuation is essential. Fundamental factors like USD or JPY economic data can further drive this movement.
This USD/JPY H4 chart appears to show a descending triangle formation, typically signaling a bearish continuation pattern. The key levels and considerations are:
1. Trend Analysis:
- The market seems to have broken the ascending trendline (blue) decisively, suggesting strong bearish momentum.
- The price is currently trading below key resistance zones (highlighted in red).
2. Fibonacci Level:
- The 0.618 Fibonacci retracement (155.01) was tested but failed to hold, further indicating bearish strength.
3. Target Zones:
- A bearish move toward the next demand zone near the 0.236 Fibonacci level (~151.18) appears likely, as marked on the chart.
4. Retest and Continuation:
- The blue arrow suggests a possible retest of the broken support-turned-resistance zone before continuing downward.
### My Thoughts:
The chart indicates bearish bias, with the next likely target near 151.18. However, monitoring the retest area closely for rejection signals to confirm the continuation is essential. Fundamental factors like USD or JPY economic data can further drive this movement.
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Note
USDJPY RUNNING WITH +110 PIPS
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Premium signals t.me/forexbee_admin ✅
My Free Telegram Channel: t.me/forexbeeofficial
website: forexbeesignals.com
My Free Telegram Channel: t.me/forexbeeofficial
website: forexbeesignals.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.