This is not a currency pair that I trade in my portfolio but I came across this nice trade-set up as I was doing my weekend analysis. The market has come into a previous structure support
now turned resistance but the RSI
is not showing overbought conditions yet so there is chance that this market could go all the way up and in the process completing the cypher pattern
. The Fact that the overall trend on this pair is bearish
then this represents a very nice shorting opportunity IF we can get there.
Check out my weekly video where I have done an in-depth analysis of EURUSD
and also pointed out a couple of advanced pattern
on the USDJPY
You can also check out one of the live trades i took using a combination of fibonacci ratio and structure.