A SELL TRADE SETUP ON USDJPY
HI Traders,
USD/JPY's bullish rally seems to be running out of steams and bullish momentum is beginning to the weakened down showing some downside preparation.
📌 Currently, the price is forming up a bullish wedge pattern
in the 8H chart of usd/JPY.
📌 The price is showing a very prolonged Divergence taking note of the RSI indicator revealing LL and LH when the price is technically showing HH and HL.
📌 Though the price is yet to break below the 2weeks bullish trendline, but it is most likely going to break before the end if the week.
📌 Technically, a break below the wedge lower band the market could start a new bearish momentum.
📌 Stay on a watchout.
USD/JPY's bullish rally seems to be running out of steams and bullish momentum is beginning to the weakened down showing some downside preparation.
📌 Currently, the price is forming up a bullish wedge pattern
in the 8H chart of usd/JPY.
📌 The price is showing a very prolonged Divergence taking note of the RSI indicator revealing LL and LH when the price is technically showing HH and HL.
📌 Though the price is yet to break below the 2weeks bullish trendline, but it is most likely going to break before the end if the week.
📌 Technically, a break below the wedge lower band the market could start a new bearish momentum.
📌 Stay on a watchout.
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