triple top formation on H4 USDJPY
as you can see i love trading usdjpy because there are so many opportunities to make money! i do analysis from different points of view so that anyone watching can consider all the different perspectives and make their own decision! this analysis consists of bearish bias being at the top of our Fibonacci channel as well as having tested the 108.5 resistance THREE times. usually a triple top formation indicates a drop in price coming soon! we are currently within the daily supply zone and overbought on the RSI, indicating to me that bears will take control next week bringing us back down to 107.500 followed by 106.700 and possibly further in the near future!
Penafian
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