GeminiWealthGroup

Bearish Butterfly on USDJPY

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
On the 4hr chart USDJPY - a bearish butterfly has formed. Price might retest the resistance at 113 zone before dropping. This is a great zone to look out for bearish evidence before shorting. There was insider information that banks were looking to take price to 114 before dropping it...but i think the bulls are exhausted... Use proper money management.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.