swissmoneymakers

USDJPY - Daily Trendline Break - Down Movements expected

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
Hi Traders!

The market was in an Uptrend, but it is now turning into a Downtrend.

As you can see we here have a bullish Parallel Channel .
The lower side of the Parallel Channel is also a daily Trendline.
This Trendline just got broken.

Now the market pulled back after the Breakout.
Beside the breakout, something important occurs too:
The lower low.

Now, the market is in a Pullback and if you consider the last top as a High, then it is a Lower High.

A possible entry would be the Break of the dashed Trendline.




Thanks and successful Trading :-)!
Comment: Here is another confirmation for the bearish Movement:

We have a MACD Divergence!