ftonialfred

USDJPY for Week of June 25, 2018

Short
OANDA:USDJPY   U.S. Dollar / Japanese Yen
USDJPY looks bearish to me, weekly candle closed bearish rejecting that 110.700 resistance area. Expecting price to make a head and shoulders pattern here on the 1H before moving down to fill in the weekly wick of 109.850. If price is able to break 109.800 support, price will look to find support at the next level of 109.400. If price breaks this 1H resistance of 110.070, we can expect price to retest that 110.200 major resistance area, if price is able to break it, we will retest and possible break 110.700-110.900 zone for a further move up. Overall bias, I still see some bearish movement.
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