USDJPY: Potential Short Trade Explained 🇺🇸🇯🇵

On a today's live stream, we discussed USDJPY pair.
The price is currently approaching an important zone of confluence:
we see a perfect match between a horizontal supply area and 618/786 retracements of the last 2 bearish impulses.

To short the pair with a confirmation, watch a double top formation on 4H.
We need a 4h candle close below 134.3 - 134.6 horizontal neckline.
Then selling on a retest, our initial target will be 133.0

Alternatively, if the price sets a new higher high on 4H, the setup will be invalid.

❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️

Comment:

Check my new idea on AUDUSD: