JPY - Decline to start soon - JPY Weakness
The chart shows the JPY weighted index on a daily time frame, creating a bearish bat harmonic pattern.
Furthermore, the last 3 daily candles together have formed a three pin pattern (Evening Star formation) indicating bearish reversal.
I expect JPY to start showing signs of weakness in the next couple weeks across the board, meaning potential XXXJPY buys.
The chart might also rise to the marked horizontal line, where the 88.6 harmonic level will be satisfied.
(The harmonic pattern has been drawn from the second highest daily point after the 3rd January spike, which has not been taken into account for this analysis.)
@PipsOfPersia
t.me/pipsofpersia
Furthermore, the last 3 daily candles together have formed a three pin pattern (Evening Star formation) indicating bearish reversal.
I expect JPY to start showing signs of weakness in the next couple weeks across the board, meaning potential XXXJPY buys.
The chart might also rise to the marked horizontal line, where the 88.6 harmonic level will be satisfied.
(The harmonic pattern has been drawn from the second highest daily point after the 3rd January spike, which has not been taken into account for this analysis.)
@PipsOfPersia
t.me/pipsofpersia