We have a bearish flag pattern on the weekly time frame.
I am looking for shorts around 1.05000 area if the price breaks the trend line.
However, if the price fails to break the trend line, the pattern should still be valid on the next short after it makes a new higher high.
USDJPY 4h TF. The current 4h candle might form a tweezer bottom after it closes which would show us a bullish signal. Also the price failed to break a strong daily support at 110.400.
I see a potential long trade to 38.20% 4h TF fib which is also the 23.60% fib on the weekly.
A nice GBPJPY setup I've been watching last week, waiting to break out of the descending triangle formed with a daily trend line and a weekly support.
I will be looking for entries somewhere around 138.400, with a 1st TP around 137.510 and next one at 136.560.