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VasilyTrader
Jan 3, 2021 9:59 AM

USDJPY: Bearish Trend & Continuation Short

USD/JPYOANDA

Description



USDJPY is trading in a strong bearish trend on weekly.
The price keeps following a major falling trend line and we see a sequence of lower lows and lowers highs since January 2017th.

This year we keep being bearish biased.
It looks like after a strong rejection from the upper boundary of a major support cluster in March, bears will try to test it again this year.

Remember that the market looks relatively oversold at the moment.
For safe entry, I would look for a pullback first and short trade would be strictly initiated on a lower timeframe after a confirmation.

Are you also bearish on USDJPY?

Please, support this idea with like. Thank you!
Comments
elsacatherine007
Good analyses
VasilyTrader
@elsacatherine007, thank you my friend 😊
Dave-FX-Hunter
It will make correction first but USD is down
KlejdiCuni
Very possible bro! Well done!
StewySongs
It's been falling structurally and collectively. How is that a strong bearish trend?
Yuriy_Bishko
the dollar is weakening.
it is true
TheSignalyst
beautiful analysis as usual!
andrewcalloway1984
I think the daily shows promise of gain for monday !!!
DACapitalTrading
Nice analysis buddy, all the best!
VasilyTrader
@DACapitalTrading, thanks a lot buddy)))
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