Notes:
Price is in an overall downtrend initiated on 2.15.2017 with a Morning Star formation on the Daily at Weekly and Trend Line resistance level of 114.900. There are multiple confluences indicating that the USDJPY will fall further. I see no reason to buy this pair.
Sell Confluences :
- Key level rejection at 113.700 indicating bearish trend. (Medium)
- H4, H1... Morning star formation at weekly key level of 113.700. (Strong)
- DAILY... Double top at weekly resistance level 113.700. (Strong)
- D, H4, H1... Price is trading below the 21 MA (Medium)
Price is in an overall downtrend initiated on 2.15.2017 with a Morning Star formation on the Daily at Weekly and Trend Line resistance level of 114.900. There are multiple confluences indicating that the USDJPY will fall further. I see no reason to buy this pair.
Sell Confluences :
- Key level rejection at 113.700 indicating bearish trend. (Medium)
- H4, H1... Morning star formation at weekly key level of 113.700. (Strong)
- DAILY... Double top at weekly resistance level 113.700. (Strong)
- D, H4, H1... Price is trading below the 21 MA (Medium)