Weekly Outlook USDJPY
This pair is showing some exhaustion and bounce right on the .618 level of the short-term bearish trend (that ultimately broke the extended uptrend), signifying a bearish sentiment in the short term. I'm expecting a double-bottom to form around the outlined areas of structure. Had this pattern been one in my strategy, I would probably be looking to short this pair for some quick pips off the bounce. Let me know what you think!
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.