#USDJPY heading to the trendline resistance
Hello all,
We have had a serious rejection on this pair for higher prices in the past three days. This made us believe the price is trading inside a descending channel and shorting consolidations has our interest.
According to us this pair is heading to a linear resistance and the price is consolidating in a wedge form. Breaking the support of this wedge will attract the bears again. We aren't shorting yet, until we see a clear rejection at the linear resistance or a break of the wedge.
Good luck!
We have had a serious rejection on this pair for higher prices in the past three days. This made us believe the price is trading inside a descending channel and shorting consolidations has our interest.
According to us this pair is heading to a linear resistance and the price is consolidating in a wedge form. Breaking the support of this wedge will attract the bears again. We aren't shorting yet, until we see a clear rejection at the linear resistance or a break of the wedge.
Good luck!
Trade closed: target reached