$USD/JPY -Giant Bearish Flag *W
Updated
- Awaiting Change of Character (CHoCH) for USD/JPY on *W tf (weekly time-frame).
Market Structure looks healthy in terms of Higher Lows on smaller time frames (1-4hr)
Decent probable Shorting opportunity in case USD/JPY fails CHoCH.
Shorting opportunity on Resistance Trendline of Bearish Flag Pattern on *W is perfect.
Pullbacks to at least 20 EMA *W + S/R zone.
Volume is aswell below average on *W
Price seems over extended for now despite The Uptrend Market Structure on
smaller time-frames
(screenshot attached at comment section)
Market Structure looks healthy in terms of Higher Lows on smaller time frames (1-4hr)
Decent probable Shorting opportunity in case USD/JPY fails CHoCH.
Shorting opportunity on Resistance Trendline of Bearish Flag Pattern on *W is perfect.
Pullbacks to at least 20 EMA *W + S/R zone.
Volume is aswell below average on *W
Price seems over extended for now despite The Uptrend Market Structure on
smaller time-frames
(screenshot attached at comment section)
Comment
(Zoomed in Uptrend)
Post-Symmetrical Triangle Break-out
Trade active
USD/JPY (update) Short Entry at the target given
TP areas as OB and Demand Zones.
Comment
Local Resistance for USD/JPY*Daily (tf) 142.255
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