What's up Traders,
Looking at the Dollar being weak again this weak with UJ following its nasty downfall. plenty of Technicals to back it up. Looking at the 4hr on UJ, the first thing I want to address is the Hidden Bearish Divergence(Lower Highs on chart, Higher Highs on RSI). That's the the cherry on top, the main indication is last weeks rally to the supply zone and failure to break through. Thus forming a pennant/Ascending triangle. (Yes I know Ascendings can be Bilateral. Most of the time they follow the trend unless used in confluence with other bullish signals.) If you want to flip over to the daily you'll notice the bearish candle as well. Just some basic Technicals on a clean set up. If you have an opinion pls share or like mine please like my Idea! Thanks.
-TraderBlake
USDJPY
Looking at the Dollar being weak again this weak with UJ following its nasty downfall. plenty of Technicals to back it up. Looking at the 4hr on UJ, the first thing I want to address is the Hidden Bearish Divergence(Lower Highs on chart, Higher Highs on RSI). That's the the cherry on top, the main indication is last weeks rally to the supply zone and failure to break through. Thus forming a pennant/Ascending triangle. (Yes I know Ascendings can be Bilateral. Most of the time they follow the trend unless used in confluence with other bullish signals.) If you want to flip over to the daily you'll notice the bearish candle as well. Just some basic Technicals on a clean set up. If you have an opinion pls share or like mine please like my Idea! Thanks.
-TraderBlake
USDJPY