If this plays out, good shorting opportunity.
Rising Wedge formation, price has been responding to the wedge, so far. Price has failed to break resistance of wedge with each attempt.
Price is currently at lower wedge line.
USDJPY broke resistance, but not convince it will hold. As price broke resistance, RSI made a lower high.
Bearish Divergence on RSI.
MACD has crossed, headed downward to the negative side
Stochastic is trending down as well
Possible entry IF wedge is broken to the downside, and RSI support has been broken.
Target 1: 11.66
Target 2: 11.00
Let me know if this helps anybody. Im new to TA, constructive criticism is needed.
USDJPY
USDJPY
USDJPY
Rising Wedge formation, price has been responding to the wedge, so far. Price has failed to break resistance of wedge with each attempt.
Price is currently at lower wedge line.
USDJPY broke resistance, but not convince it will hold. As price broke resistance, RSI made a lower high.
Bearish Divergence on RSI.
MACD has crossed, headed downward to the negative side
Stochastic is trending down as well
Possible entry IF wedge is broken to the downside, and RSI support has been broken.
Target 1: 11.66
Target 2: 11.00
Let me know if this helps anybody. Im new to TA, constructive criticism is needed.
USDJPY
USDJPY
USDJPY