kaizenov
Short

Downtrend Pausing

FX:USDJPY   U.S. Dollar/Japanese Yen
29 0 1
From my perspective, the downtrend is pausing until new sellers or buyers enter the market. The marked prices at $104.852 and $104.087 according to Market Profile, a large amount of activity occurred around this price range on July 12-13. Also take in mind, the market is also ranging around the daily 20 day moving average as we speak. So there is a potential that this is a pivotal point if the market shows a strong movement up with a good amount of volume (a bull candle large as the previous day's bear candle closing at it's highs).

I suspect that the downtrend is still in motion, my next target is 103.00 - 102.50
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