jojofang0901

USDJPY Watch For Reversal Bearish Price Action

Short
OANDA:USDJPY   U.S. Dollar / Japanese Yen


Hello everyone:

Also eyeing USDJPY for the JPY strengths in the market.

From my previous analysis at the top of the expanding structure, price did impulse down very aggressively.

After a strong impulse down, price begin its corrective phase,
and we are getting this parallels channel structure, as price continues to correct within.

The more swing highs and lows that we can identify, the better it is to recognize that we are in a consolidation correction,
and there is good probability that the bearish price can resume after the correction completes.

Now that price is at a lower time frame double tops, and consolidation at the top,
good to look out for any reversal price action to form and complete, then look for sell entries down to the lows.

thank you
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