bearish flag pattern on dollar yen

hey guys,

very interesting market sentiment on usdjpy pair.

as you see, we have a very nice rising channel.
reaching 111.0 level we see a formation of a double top pattern and rsi divergence.
the market leaves us clues that bullish momentum is exhausted and potentially
bears start to pressure the market.

right now I will be looking for a bearish violation of 110.4 level.
this violation will trigger a massive selling reaction from market participants,
so we can anticipate strong bearish movement to lower levels.

good luck!

Komentarz:

no breakout...
retest of the high

Anulowano zlecenie:

new higher high