As per chart,
Prices are below supertrend and EMA200 indicating a bearish movement.
Potential order block and fair value gap area at price range 154.900 - 155.350 for retracement for short opportunity.
Entry values as per indicated.
Point B is between 0.382 - 0.618 of XA
Point C nearly reached 0.886
Entry at point D i.e. 0.886 fibo retracement
Trade plan:
Stop loss above resistance
TP between 0.382 - 0.618 when Stoch RSI has reached oversold,
or hold till price touches 0.618 for a nice 1:3 risk-to-reward ratio
-Bearish cypher pattern for USDJPY
-Double top formed at the top trendline
-H1 candle has closed below the neck
-Wait for retracement to the neck for entry
-SL above previous High
-TP at bottom trendline
