Usdjpy daily overview. Anticipating for a bearish continuation but I'm expecting a purge of the high before the continuation.
Price did push through the 50% and violated the inducement oder block and now I'm expecting it to drop from this supply zone. Low time frames change of character and retracment is what to wait for,for a confirmation for short orders.
This is the repost of the failed to uploadoad well idea of USDJPY.
Price has made a series of bearish breaks and now it's clear that it's making a pull back. Now that it's above 50% of the range i think it's the best time to sell USDJPY.
In this weekly outlook considering the prevailing bearish structure it's less likely for price to reverse within this range, so I'm anticipating for a break of the swing low. If trading with this bias make sure to look for lower time frames confirmations that are in line with this analysis.
There is a strong bearish order flow that created a change of market structure. I think price will trade above the current highs into the highlighted order blocks where i expect another bearish moves as shown with a path arrow