USDJPY Short - TA May 5 2019

I used to trade USDJPY then moved to USDCAD , but now I'm taking a look into USDJPY, because I'm interested to see how it'll behave after the Japanese banking holidays.

After a week long of the Japanese Golden Week banking holidays, we're currently seeing a bearish momentum that is clearly heading down and breaking the Daily support price zone of 110.663.

I expect to see a consolidation that will create an upward trend to 110.992 price zone, which will then continue to head down to 110.005 price zone.
Will monitor and update analysis and thoughts throughout this week.

Comment:

Analysis seems to stick. Only this time the upward momentum went to the 110.952 zone and is currently heading downwards to the 110.005 demand area.

If you haven't entered sells positions after 110.663, don't bother. it'll go down for a short time then it'll rip back up to the zone between .992 and .663.

Will keep an eye into this and update how it'll develop.

Comment:

Analysis on point. Hell yeah.
I hope everyone took sells until the 110.005 - 109.793 zone. Happy trading!

Comment:

lol even after 6 weeks, the analysis still sticking.
the downtrend resistance was respected at 110.663 on May 21st, and the uptrend was rejected, thus continuing the longterm downtrend.