BEARISH BIAS
USDJPY is a great pair!
DAILY- price is currently trading at previous break out low- 108.000
price was in consolidation between RES.109.600- SUP 108.450
support level 108.450 was broken, indicating bearish momentum
4H- RSI is over sold on this time-frame, so a retest of previous level is expected before the extension
1H- price has rejected 108.00 level twice, this solidifies the expected pull back of approx. 35-40 pips
ANALYSIS-108.450 was a daily key level of support,with this in mind IF price retest 108.450 level and rejects THEN i predict that price will continue downwards to levels 107.250 and further to 106.600
DAILY- price is currently trading at previous break out low- 108.000
price was in consolidation between RES.109.600- SUP 108.450
support level 108.450 was broken, indicating bearish momentum
4H- RSI is over sold on this time-frame, so a retest of previous level is expected before the extension
1H- price has rejected 108.00 level twice, this solidifies the expected pull back of approx. 35-40 pips
ANALYSIS-108.450 was a daily key level of support,with this in mind IF price retest 108.450 level and rejects THEN i predict that price will continue downwards to levels 107.250 and further to 106.600
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.