is in an overall downtrend on the monthly. Daily chart
shows a Double Top
pattern. Price has broken the neckline on the impulse towards the downside and retraced back to the upside with a precise rejection at the 0.5 level of the fibonacci retracement
tool. I think price could consolidate between 0.5 and the 4HR key level for a bit but I think my overall bias for USD/JPY
is a strong sell. I would wait till price passed the 4 hr
key level again for an entry.
Trading Journal #6