Dolar A.S. / Yen JepunSingkat
USDJPY SHORT BIAS
Price is technically in a downtrend with several lower lows.
We now have this sort of range bound market on the 4H chart which is what i'll be working with until price break out of the range bound zone. We have price trading below the BEARISH FLAG, with an ascending WEDGE also formed below it, it also worth to know the resistance zone of the said ascending WEDGE tested twice with rejection aligned with the 61.8 Fibonacci of the last Impulse move we had on USDJPY.
I'm more of BEARISH BIAS on this said pair, with Thursday and Friday candles closed as PINBARS.
I will be looking out for a break below the ascending wedge to set price lower with possible target at 105.30 as first TP and 104.30 zone as long term TP
We now have this sort of range bound market on the 4H chart which is what i'll be working with until price break out of the range bound zone. We have price trading below the BEARISH FLAG, with an ascending WEDGE also formed below it, it also worth to know the resistance zone of the said ascending WEDGE tested twice with rejection aligned with the 61.8 Fibonacci of the last Impulse move we had on USDJPY.
I'm more of BEARISH BIAS on this said pair, with Thursday and Friday candles closed as PINBARS.
I will be looking out for a break below the ascending wedge to set price lower with possible target at 105.30 as first TP and 104.30 zone as long term TP
Penafian
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