Hello traders,
Just quick update for USDJPY pair.
Looking at 4 hour chart, we see that USDJPY is hovering around 61.8% Fib level. This could be the double top formation (there is bearish RSI, MACD, and Stoch RSI divergence)
If you look at longer time frame, there is also a potential bear flag is taking place, and breakout from this flag is 109.2.
My short term bearish will be invalidated if USDJPY can scale up to 113.8.
Happy trading!
Just quick update for USDJPY pair.
Looking at 4 hour chart, we see that USDJPY is hovering around 61.8% Fib level. This could be the double top formation (there is bearish RSI, MACD, and Stoch RSI divergence)
If you look at longer time frame, there is also a potential bear flag is taking place, and breakout from this flag is 109.2.
My short term bearish will be invalidated if USDJPY can scale up to 113.8.
Happy trading!
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Related publications
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.