USDJPY SELL: Weekly, Daily & 4hr

USDJPY Weekly:
• UJ for the past 4 weeks has plummeted a solid 850pips revisiting last years lows then closed above 107.00 monthly support as a bearish hammer.
• Price managed to close below 109.50 weekly but couldn’t quite close below 108.50 psych level.

USDJPY Daily:
• Price closed below 108.50 psychological level with bearish engulfing candle.
• I still expect one more push down to 107.00 support as price is still respecting the moving averages with good rejections.

USDJPY 4hr:
• 4hr bear candle broke through108.12 which is a strong intra-day level with level forming hammer, engulfing and doji candles signifying strength.
• After the break of 108.12 I do now expect price to come back and retest this level as resistance before entering short positions down to 107.00 psychological level.

Trade active

Trade closed manually:

-15pips. Reversal on the cards