Anticipating on bearish relief on USDJPY
Weekly timeframe
- Fib completion (-27)
- Bearish indicational candle (not the strongest but advantage for the bears)
- Selling region
- First bulls can be found around the 149.400 region (anticipating on relief)
Daily timeframe
- Reversal indication (double top)
- Head and shoulders + natural W (pattern within pattern/focus on the reversal)
- Solid bearish push
4H timeframe
- Clear bearish impulse followed by bullish corrective price action
- Shift in momentum
- Break of the ascending trendline
- Descending trendline holding the price down
- Fib completion (-27)
- Bearish indicational candle (not the strongest but advantage for the bears)
- Selling region
- First bulls can be found around the 149.400 region (anticipating on relief)
Daily timeframe
- Reversal indication (double top)
- Head and shoulders + natural W (pattern within pattern/focus on the reversal)
- Solid bearish push
4H timeframe
- Clear bearish impulse followed by bullish corrective price action
- Shift in momentum
- Break of the ascending trendline
- Descending trendline holding the price down
Comment:
No trade due to NFP