USDJPY possible reversal
Daily TF - Market has been moving in an ascending channel since Jan 2021
4H TF - It is forming a ascending channel and it has recently done a double bottom and moved impulsively to the up side.
1Hr TF - After the impulsive move to the upside market formed an ascending channel that touched a previous level forming a double top and consequently moved impulsively down breaking the ascending channel, now correcting and possibly continue further down at the break of the current correction.
This goes in confluence with the dollar index analysis.
4H TF - It is forming a ascending channel and it has recently done a double bottom and moved impulsively to the up side.
1Hr TF - After the impulsive move to the upside market formed an ascending channel that touched a previous level forming a double top and consequently moved impulsively down breaking the ascending channel, now correcting and possibly continue further down at the break of the current correction.
This goes in confluence with the dollar index analysis.
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