Clean structure here for usdjpy with a clear double top pattern and a triple top within the formation and low momentum candle sticks show not many bulls are on this pair, so I’ll look to short if price breaks that little trendline for a decent risk to reward to bottom of channel and beyond due to multi touch analysis
a little bit of patience is needed to wait for price to possibly hit the bottom of channel then would monitor price action for possible long with good risk to reward
Market has formed a structure and price is going correctively to the top with little upside momentum, so potential sell to the downside is on the cards
Strong daily channel, corrective move to the upside and as can be seen by looking left the downside move is the impulsive phase. Would be watching price action at the top of channel for selling longterm.
Ascending channel and price is moving correctively to create a double top, would be looking for shorting opportunities to neck line then further to bottom of channel
