actavis89
Short

USDJPY - Short - Bearish Butterfly w/ Terminal Price Bar

OANDA:USDJPY   U.S. Dollar / Japanese Yen
Clear harmonic butterfly with fairly precise D point that aligns with important weekly close level that has acted as both support and resistance in the past.

Price running into the top of the cloud on the monthly chart and a flat kumo level on the monthly is also acting as resistance in the same area

Bearish RSI divergence and both OBV/ RSI also facing heavy resistance

Terminal Price bar gives solid SL above 112.8

Initial targets of 110.75/109.4

Cloud is beginning to flatten which should act as a magnet and aligns well with my first target.

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