USDJPY is showing signs of reversal in 3 different ways. The bullish momentum is slowing down, indicating a possible price reversal. Price is also hitting the top trend line that I have charted. And price is hitting a recent resistance line. Though not charted, USDJPY is at the end of a reverse head and shoulders.
Note
Error came from drawing my trend lines on a lower time frame. I drew them on the 4 hour, when I should've drawn them on the daily. This would've shown more room for the price to rise. Trends on higher time frames are always stronger.
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Disclaimer
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.