USDJPY Rejection at daily trendline.

FX:USDJPY   U.S. Dollar / Japanese Yen
UsdJpy             in currently consolidating inside a big triangle after the big bullish bat pattern.
Rejected 2 times at the trendline , that area is also previous sell area.
Closed 2 bearish candlesticks in a row.

A leg down might be underway.

Stops above the spike high.
Agree, although many traders are bullish looking for the killer third wave i think right NOW more correction is coming. We see a clear double top with divergence. The correction for wave four is not finished yet. After that we can long
Norsefx PRO FullTimeTrader
I have a small leftover longposition from 120.55 (bat pattern/trendline touch) so im positioned if we get a premature move up. But like yourself, i think a correction to the downside is due. Would love to get another entry down at the lower TL or the 61.8 of last move.
I'd like to go long soon.
Norsefx PRO IvanLabrie
Me too, next leg up should be a great play.
Liking it.
+1 Reply
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