USDJPY: Preparing For Bearish Move 🇺🇸🇯🇵
Updated
Hey traders,
USDJPY recently broke and closed below a support line of a major rising channel on a daily.
Now we see the retest.
On the chart, I underlined a blue area that is considered to be a potential strong zone of supply.
To catch a bearish move, pay close attention to a rising wedge pattern on 1h.
Its bearish breakout will be a trigger for us to short.
First goal will be 110.0
Remember that in case if the price violates a blue area to the upside,
the setup will be invalid.
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Note
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