Possible bearish movement on USDJPY
Price is moving inside an ascending daily channel and right now has been touched the weekly descending trend line for the 7th time. Additionally, it is showing a pin bar candle stick pattern on Hourly charts which indicates the end of the hourly upward movement as well. Therefore, reversal to the bottom of the daily channel is expected.
Will are looking for breakout of the hourly structure downward close to the weekly resistance zone to enter a short position.
Will update the idea accordingly.
Will are looking for breakout of the hourly structure downward close to the weekly resistance zone to enter a short position.
Will update the idea accordingly.
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