USDJPY H4 Potential Bearish Momentum | 28th July 2022On the H4, with price broken out of the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to our sell entry at 134.531 where the swing low support, 61.8% fibonacci retracement, 78.6% fibonacci projection and 161.8% fibonacci extension are. Once there is downside confirmation of price breaking entry structure, we would expect bearish momentum to carry price to the take profit at 131.480 where the swing low support is. Alternatively, price could head for stop loss at 136.723 where the overlap resistance is.
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