For Your Information Only:
Since beginning of this year the bearish major trend on USDJPY 1 day chart has been in going on. Three times PRICE ACTION has hit the top of trend line and then dropped down (see yellow circles). Every time on RSI PA goes above 50 line it then drops in a bearish direction. Last three days have been bullish or green candlesticks, so early next week will be on shorter time frames trading bullish, BUT looking for REVERSAL patterns on 1 hour or 15 min time frames (like harami, pin-bar and/or engulfing chart patterns). Until green major trend line on chart is broken above, major direction change is still bearish. Shorter time frame charts just continue to trade with trend noted and support/resistance areas.
Since beginning of this year the bearish major trend on USDJPY 1 day chart has been in going on. Three times PRICE ACTION has hit the top of trend line and then dropped down (see yellow circles). Every time on RSI PA goes above 50 line it then drops in a bearish direction. Last three days have been bullish or green candlesticks, so early next week will be on shorter time frames trading bullish, BUT looking for REVERSAL patterns on 1 hour or 15 min time frames (like harami, pin-bar and/or engulfing chart patterns). Until green major trend line on chart is broken above, major direction change is still bearish. Shorter time frame charts just continue to trade with trend noted and support/resistance areas.