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EGFinanceFX

sell setup for usdjpy

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
EGFinanceFX  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY usdjpyshort usdjpyanalysis usdjpydaily usdjpyforecast usdjpysignal usdjpysell usdjpyidea usdjpysetup Contains image
6
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trendanalysis harmonicpatterns chartpattern usdjpy usdjpyshort usdjpyanalysis usdjpydaily usdjpyforecast usdjpysignal usdjpysell usdjpyidea usdjpysetup containsimage
the price is too close to the weekly resistance, so we expect the price will reject it making a correction
at least to the 38.20 % Fib from the long leg.

so we should wait on smaller TF for a clear momentum shift to the downside.
if the price break and closes above the weekly resistance, this scenario will fail.

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