USDJPY-H4-bearish cypher is waiting at key area
Sooner or later the consolidation on this pair should finish. My expectation is a strong breakout to the downside.
Looking at D1 chart price is making a small rally to the upside and is reaching a key area, where we have.
- trendline resistance
- ema 55 as resistance
- strong structure
- a big head and shoulders pattern could be forming
Here on H4 chart a bearish cypher pattern is waiting to be filled, i will place sell limit orders at the 120.500 level
SL and targets on chart
Best regards
*****************DISCLAMER********************************************************************
Follow me on Twitter: @fxtrader2000
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Looking at D1 chart price is making a small rally to the upside and is reaching a key area, where we have.
- trendline resistance
- ema 55 as resistance
- strong structure
- a big head and shoulders pattern could be forming
Here on H4 chart a bearish cypher pattern is waiting to be filled, i will place sell limit orders at the 120.500 level
SL and targets on chart
Best regards
*****************DISCLAMER********************************************************************
Follow me on Twitter: @fxtrader2000
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Comment:
Trade active, lets see.