USD/JPY Short Term Bearish Overview
Updated
-Here we have a critical resistance area between (103 .70) & (103 .50) . this area Already have :
1-Minor downtrend
2-broken support level (head & shoulders Nickline)
3-Broken Support level ( Right shoulder )
4-Fibonacci Retracement 0.618 from the previous high to the latest low
-Now the price are testing the previous low that has been on the lower band of the up channel
the previous low is near enough from the congestion supporting area , so we predict a bullish re-action on this area
but we guess the next up move will be too short , because the critical resistance area we mentioned above .
also according to structure Analysis the pair continue to make lower highs and lower lows .
Which is clear that the pair can't make any upward move in the next hours. hence we can only seek for short opportunities .
-So ,If we see a bearish reaction on that Specific area , That's provide us a potential short position
from this area to the downside to the previous low or at least to the lower band of the up channel
Be Sure to be Ready ....!!
Thanks .....!!
1-Minor downtrend
2-broken support level (head & shoulders Nickline)
3-Broken Support level ( Right shoulder )
4-Fibonacci Retracement 0.618 from the previous high to the latest low
-Now the price are testing the previous low that has been on the lower band of the up channel
the previous low is near enough from the congestion supporting area , so we predict a bullish re-action on this area
but we guess the next up move will be too short , because the critical resistance area we mentioned above .
also according to structure Analysis the pair continue to make lower highs and lower lows .
Which is clear that the pair can't make any upward move in the next hours. hence we can only seek for short opportunities .
-So ,If we see a bearish reaction on that Specific area , That's provide us a potential short position
from this area to the downside to the previous low or at least to the lower band of the up channel
Be Sure to be Ready ....!!
Thanks .....!!
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