#USDJPY
The market is going for a bearish move.
Reason for sell.
1) Market has touched strong falling resistance and was not able to cross it.
2) In the H4 timeframe market is moving in the bullish channel and is at its resistance so will move towards its support.
3) Market has formed a double top at falling resistance and already tested its neckline and when it will cross neckline and we see a bearish candle that will be our entry point.
4) In the higher timeframe of D1 analysis also shows a downtrend.
So above points validate our bearish move.
The market is going for a bearish move.
Reason for sell.
1) Market has touched strong falling resistance and was not able to cross it.
2) In the H4 timeframe market is moving in the bullish channel and is at its resistance so will move towards its support.
3) Market has formed a double top at falling resistance and already tested its neckline and when it will cross neckline and we see a bearish candle that will be our entry point.
4) In the higher timeframe of D1 analysis also shows a downtrend.
So above points validate our bearish move.
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.
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.