USD-JPY ✯ SHORT SETUP ✯ ONE HOUR TIME FRAME
The current technical analysis of the USD-JPY currency trading pair reveals an increasing trend that has been shaping from last few hours. However, there is also an indication of bearish divergence, suggesting that the bullish momentum may be losing steam.
Looking at the charts, we can see that the price of USD-JPY has been steadily rising forming higher highs and higher lows, indicating a clear uptrend.
However, there is a notable bearish divergence pattern emerging, indicating that the bullish momentum may be losing steam. While the price of USD-JPY has been increasing, the Relative Strength Index (RSI) has been showing a downtrend. This divergence between the price and the RSI suggests that the price may be overbought and due for a correction.
Considering all the technical indicators, it appears that the USD-JPY currency trading pair may take the bearish movement from the ENTRY PRICE mentioned in the chart. Thus, it can be an opportunity for a SHORT TRADE if it breaks the ENTRY PRICE.
Looking at the charts, we can see that the price of USD-JPY has been steadily rising forming higher highs and higher lows, indicating a clear uptrend.
However, there is a notable bearish divergence pattern emerging, indicating that the bullish momentum may be losing steam. While the price of USD-JPY has been increasing, the Relative Strength Index (RSI) has been showing a downtrend. This divergence between the price and the RSI suggests that the price may be overbought and due for a correction.
Considering all the technical indicators, it appears that the USD-JPY currency trading pair may take the bearish movement from the ENTRY PRICE mentioned in the chart. Thus, it can be an opportunity for a SHORT TRADE if it breaks the ENTRY PRICE.
Order cancelled:
Trade did not activate. Cancelled the Trade at No Profit No loss