USDJPY pair has been on a downtrend on Daily timeframe with Lower Highs (LH) and Lower Lows (LL) forming.
The pair is in a valid downtrend on H4 timeframe as well making LHs and LLs and we see clear rejection at point A and C of Harmonic pattern validating downtrend line.
Recently price formed a LH at the 0.618 Fibonacci retracement which is a strong reversal...
Valid Cypher Harmonic on Daily timeframe
Daily:
Bearish Engulfing Pattern formed at 0.786 fibonacci retracement at which it completed the Cypher Harmonic.
Wick on Daily timeframe formed a double top and rejected at supply zone.
1 Hour:
Break of trendline @ 111.426 on 30/08/2018
Retest of trendline on shorter timeframe (15min & 5min) @ 111.436 - FIRST SELL...
