Strong Clean Downtrend
USDJPY has been in a clean downtrend creating LH's and LL's since the beginning of the year. Price has now retraced back to the trendline and has shown a clean bounce indicating a move back down. Price has also just broken through my counter trendline which has shown to be a strong retracement previously. I can see a bearish movement for next week so I will be going short long-term until my MONTHLY RES which also creates a LL.
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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.