Rising Flag formed on USD/JPY We then had a price break below, which signalled downside to come. Other indicators showing downside are... 200>21>7 - Bearish RSI<50 Target 126.48
SMC (Smart Money Concepts) We had a Change of Character (CHoCH) This is where the price moves to the point where there is a change in the overall trend. It creates a trend reversal. You’ll see a CHoCH on higher time frames usually (i,e, daily). Therefore with SMC we confirm there is downside to come. First target is at previous levels of liquidity. Which in this case is the support (dotted line)