USDJPY: Trend Reversal, Broke of Rising Structure
Just when we are ready to follow the trend and continue to buy, a strong supply came in and near the 4-month supply zone.
The price has broken below a 1-month rising trendline as well as the bottom of a range, and it is even clearer if we look at the strong bearish candle in the Day chart.
The structure has changed into a bearish market and the price has also retraced to the bottom of the range which is a good price to sell now.
The price has broken below a 1-month rising trendline as well as the bottom of a range, and it is even clearer if we look at the strong bearish candle in the Day chart.
The structure has changed into a bearish market and the price has also retraced to the bottom of the range which is a good price to sell now.
