TECHNICAL ANALYSIS USDJPY
Time Frame: 4H
- Overall downtrend. The price is moving in downtrend limited by the resist line. The resist line was broken not so long ago. The price created big push to the upside, which was followed by the exhaustion faze or the retracement faze. Also, the price failed to break below after the strong push to create new low point closer to the resist line for retest. We can also see possible inverted head and shoulders pattern which is typical for trend reversal situations.
USDJPY
- Overall downtrend. The price is moving in downtrend limited by the resist line. The resist line was broken not so long ago. The price created big push to the upside, which was followed by the exhaustion faze or the retracement faze. Also, the price failed to break below after the strong push to create new low point closer to the resist line for retest. We can also see possible inverted head and shoulders pattern which is typical for trend reversal situations.
USDJPY
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