USDJPY - Upcoming Selling Movement - Trendline Bounce

Hi Traders!
The market is in a longterm Downtrend and in a shortterm Uptrend.

As usual, we like to begin with the overview. Here is the daily Timeframe:

So, as you can see it is at three main Levels which could push the price even lower:

• Trendline
  The market is at the (purple) Trendline and normally will pull back from it.
  The break of the Trendline is possible, but the chances are low at the moment.
  
  
• 50 Exponential Moving Average
  This is the only indicator we know, that even Price-Action-Traders look for often, even they don't trade indicators.
  So, in general is the 50MA very important.
  Not only retail traders but also Trading Expert Advisors use them for their entry.
  That's why we expect a Pullback from there.
  
  
• Resistance
  The Resistance 106.800 is a Supply Zone.
  Support and Resistance Traders will probably trade this oppurtunity.
  
  

Now move on to the lower timeframe; here is the H4:

It was moving in a consolidation box.
Then it broke out bullish and reached the Trendline.
Now we expect a Pullback towards the Top of the consolidation Box.

Finally, let's move to the Entry Timeframe (main Picture):

Now you can use the Entry Method you like if it is building up.
You can trade the Break of a potential Trendline, Support or you wait for a Retest etc.

We recommend to set a TP in a conservative place due to the high bullish Price Action.



Thanks and successful Trading :)!

Comment:

Here is the RED BOX you might be looking for: