USDJPY - Short - Bearish Butterfly w/ Terminal Price Bar
Clear harmonic butterfly with fairly precise D point that aligns with important weekly close level that has acted as both support and resistance in the past.
Price running into the top of the cloud on the monthly chart and a flat kumo level on the monthly is also acting as resistance in the same area
Bearish RSI divergence and both OBV/RSI also facing heavy resistance
Terminal Price bar gives solid SL above 112.8
Initial targets of 110.75/109.4
Cloud is beginning to flatten which should act as a magnet and aligns well with my first target.
Price running into the top of the cloud on the monthly chart and a flat kumo level on the monthly is also acting as resistance in the same area
Bearish RSI divergence and both OBV/RSI also facing heavy resistance
Terminal Price bar gives solid SL above 112.8
Initial targets of 110.75/109.4
Cloud is beginning to flatten which should act as a magnet and aligns well with my first target.