Frey21

Frey21

USDJPY is forming a double top with a Bearish RSI divergence on the hourly chart.

Frey21

Previous structure resistance is retested as support. Pin bar confirmation on the 5 minutes chart timeframe on a downtrend at the support area. Market could rally back to the resistance level @122.30. A candlestick confirmation should be considered before entering into a long position.

Frey21

Double bottom at the 50% fib retracement close to previous resistance level. Candlestick confirmation of buyers presence should be check before entering into a long position. Also RSI should indicate a bullish divergence.