$USD/JPY -Giant Bearish Flag *W
- Awaiting Change of Character (CHoCH) for $USD/JPY on *W tf (weekly time-frame).
Market Structure looks healthy in terms of Higher Lows on smaller time frames (1-4hr)
Decent probable Shorting opportunity in case $USD/JPY fails CHoCH.
Shorting opportunity on Resistance Trendline of Bearish Flag Pattern on *W is perfect.
Pullbacks to at least 20 EMA *W + S/R zone.
Volume is aswell below average on *W
Price seems over extended for now despite The Uptrend Market Structure on
smaller time-frames
(screenshot attached at comment section)
Market Structure looks healthy in terms of Higher Lows on smaller time frames (1-4hr)
Decent probable Shorting opportunity in case $USD/JPY fails CHoCH.
Shorting opportunity on Resistance Trendline of Bearish Flag Pattern on *W is perfect.
Pullbacks to at least 20 EMA *W + S/R zone.
Volume is aswell below average on *W
Price seems over extended for now despite The Uptrend Market Structure on
smaller time-frames
(screenshot attached at comment section)
Trade active:
$USD/JPY (update)
Short Entry at the target given
TP areas as OB and Demand Zones.
Short Entry at the target given
TP areas as OB and Demand Zones.
Comment:
Local Resistance for USD/JPY
*Daily (tf) 142.255
*Daily (tf) 142.255
(Zoomed in Uptrend)
Post-Symmetrical Triangle Break-out