USDJPY | 1H Timeframe | Looking to break bullish trend
Case for Bulls:
- Overall Bullish Trend with HH and HL
Case for Bear:
- Strong Divergence
- Possibility of a H&S Pattern
- Breakout on resistant - Sellers may get active
- May is a Bearish month for USDJPY
Stance : Bearish
Trading Plan : Wait and Watch on Break and if it make LH and LL then enter at the neckline support. Risk Reward ratio to be managed at 1:1
- Overall Bullish Trend with HH and HL
Case for Bear:
- Strong Divergence
- Possibility of a H&S Pattern
- Breakout on resistant - Sellers may get active
- May is a Bearish month for USDJPY
Stance : Bearish
Trading Plan : Wait and Watch on Break and if it make LH and LL then enter at the neckline support. Risk Reward ratio to be managed at 1:1