tokelohomi

Change in market structure

FX:USDJPY   U.S. Dollar / Japanese Yen
The break of structure led to change in market structure influenced by a shooting star candlestick. The from respected the initial demand zone, but failed to keep momentum and continued going bearish in a corrective manner. A volatile single one hour candlestick occurred and engulfed the whole corrective bearish move to mitigate the breaker block, then price was rejected and now it’s currently within the fair value gap. The priority is to go bullish now, waiting for a clearer confirmation on one of the significant areas then we go bullish…

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