USDJPY - Weekly outlook
We are seeing have seen heavy rejection and fake breakouts from this 4HR current resistance including a doji/kangaroo tail. With the wicks making lower highs.
On the 1hr we are starting to see swings to the downside with a clear retest of resistance.
The 15min has a trend line acting as support. My overall view on this pair is bearish.
I’ll be looking to take a sell on the break of the 15min supporting trend line with a clear bearish candle/chart pattern or retest of the trendline.
I’ll be holding to around 109.800 level which Is the next 4hr support if we have a bearish 1hr candle close through this support ill hold till 108.700 level
On the 1hr we are starting to see swings to the downside with a clear retest of resistance.
The 15min has a trend line acting as support. My overall view on this pair is bearish.
I’ll be looking to take a sell on the break of the 15min supporting trend line with a clear bearish candle/chart pattern or retest of the trendline.
I’ll be holding to around 109.800 level which Is the next 4hr support if we have a bearish 1hr candle close through this support ill hold till 108.700 level
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