Here we have USD/JPY on the 1h chart with a potential shorting opportunity, as you can see price is trading within a descending channel and has formed a bearish cypher pattern... I'm expecting a breakout to the D point followed by a re-test of the trendline for my take profit level.
Keep an eye on this structure over the next week, if you have any additional analysis feel free to leave it below.
Keep an eye on this structure over the next week, if you have any additional analysis feel free to leave it below.
Note
Price has broken out of the channel, we're now 80 pips off the potential reversal zone.
📈 Master the Art and Science of Trading: sixfigurecapital.com
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📈 Master the Art and Science of Trading: sixfigurecapital.com
Related publications
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.