Bearish USDJPY
Updated
Downtrend line close to breakout, bullish momentum fading, struggling to accelerate higher.
MACD bearish divergence. Bulls losing momentum.
Weekly MACD looks like it's rolling over. Weekly RSI extremely overbought.
This trend is strong and will not break overnight. Looking for some more confirmation to the downside where I expect another rally/choppiness between 135-138. Will look for bearish entry at about 138.00 for better risk-reward.
Fundamentally, rates look like they are topping out. Rates correlated with USDJPY.
MACD bearish divergence. Bulls losing momentum.
Weekly MACD looks like it's rolling over. Weekly RSI extremely overbought.
This trend is strong and will not break overnight. Looking for some more confirmation to the downside where I expect another rally/choppiness between 135-138. Will look for bearish entry at about 138.00 for better risk-reward.
Fundamentally, rates look like they are topping out. Rates correlated with USDJPY.
Note
Uptrend line close to breakout*
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