USDJPY coming close to entry, double top almost fully formed on the daily chart!
Now if you go onto the monthly time frame you will see it has been producing lower highs since 1998, next one I believe is being formed now! At the peak of the lower high a spinning top has formed followed by a strong bearish candle to add confirmation to the expected bearish move.
Stoch is also showing the pair to be over brought in the monthly frame, ma cross over on the daily time frame has almost occurred!
Confluences
- Lower highs
- Double top
- Near ma crossover
- Over brought on the monthly
- Trend changing to bearish, ( spinning top formed )
Now if you go onto the monthly time frame you will see it has been producing lower highs since 1998, next one I believe is being formed now! At the peak of the lower high a spinning top has formed followed by a strong bearish candle to add confirmation to the expected bearish move.
Stoch is also showing the pair to be over brought in the monthly frame, ma cross over on the daily time frame has almost occurred!
Confluences
- Lower highs
- Double top
- Near ma crossover
- Over brought on the monthly
- Trend changing to bearish, ( spinning top formed )