On a D1 and W1 price is forming a with longer upper resistance --> What do we know about trend lines? The longer they are and the more times they have been touched, more reliable they are!
More so on a D1 timeframe, price seems to be forming Head and Shoulders pattern inside the descending triangle which is even more pattern!
I'm expecting the exchange rate of FX:USDJPY to around 107.800 level where is an W1 Fibonacci level! Or even further to 105.950 where Motnhly and D1 Fibonacci level meet!
Note: This is not a financial advice in any form is just an opinon based on price action! Please leave a like if you find this helpful, or a comment if you want to add something! I'm here to grow a community where we all communicate, exchange ideas and so on! Peace
Otherwise I'm still looking to go short!