frexbull
Short

3x Bearish Flags in 1Hour Charts

FX:USDJPY   U.S. Dollar / Japanese Yen
Seeing this bearish pattern for the USDJPY             . OBV shows sellers still have control of this trade in the short term chart as well as well as in Weekly Chart. A break below the 3rd bearish flag will be devastating. I feel it's going to need an unprecedented reversal to shift my view and turn me into a bull for now.
3rd bearish flag confirmed. USDJPY is now trending lower at 100.16 as of this writing. Waiting for the 100 handle to be broken for the trend to be confirmed. Nevertheless I hope you made money on the down move passed few days. 100 is a major psychological support level and can only be broken with meaningful market conviction. Lackluster Japan GDP looks to have failed to bring the pair lower. Advising to be vigilant at these levels.
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