BEARISH FORCE FORMED ON USDJPY
STARTING FROM UP TO DOWN ANALYSIS
On monthly timeframe, the current candlestick got mass bearish pressure selling to the extent that it broke through the monthly support zone.
Then now Big rejection on the same candlestick just occurred with a great amount of pressure from the bulls. Signifying that bulls are in control in monthly.
Now let move to the Weekly, and on the weekly we can see the bulls still in charge with a bullish engulfing pattern and also big rejection against bears. Now the current weekly candlestick is rejecting from the last point it sold to.
Now on our daily, we can still identify a bullish engulfing pattern and also strong push pressure moving almost touching the monthly trend line as it broke through and came back down again and now it finding it way up there again.
On monthly timeframe, the current candlestick got mass bearish pressure selling to the extent that it broke through the monthly support zone.
Then now Big rejection on the same candlestick just occurred with a great amount of pressure from the bulls. Signifying that bulls are in control in monthly.
Now let move to the Weekly, and on the weekly we can see the bulls still in charge with a bullish engulfing pattern and also big rejection against bears. Now the current weekly candlestick is rejecting from the last point it sold to.
Now on our daily, we can still identify a bullish engulfing pattern and also strong push pressure moving almost touching the monthly trend line as it broke through and came back down again and now it finding it way up there again.
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