USDJPY Sell Idea
H4 - Triple cycle up, the third leg of this triple cycle is moving higher towards the second magnet zone.
From this zone we can start looking for a possible stop and retrace signs. if we can see any, we can think about some sells from here.
If this zone doesn't hold, we may then expect the price to move higher and reach the third magnet zone and may look for a bearish reversal to happen from there. In that case once we get evidences of bearish reversal, we can then start looking for sells from this zone.
Bearish divergence forming.
We may look for sells until price reaches the 38.2% to 50% fibo retrace zone of this triple cycle.
From this zone we can start looking for a possible stop and retrace signs. if we can see any, we can think about some sells from here.
If this zone doesn't hold, we may then expect the price to move higher and reach the third magnet zone and may look for a bearish reversal to happen from there. In that case once we get evidences of bearish reversal, we can then start looking for sells from this zone.
Bearish divergence forming.
We may look for sells until price reaches the 38.2% to 50% fibo retrace zone of this triple cycle.
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