Hi guys,
In my opinion, the trend is changing on the USDJPY. It has bounced off major resistance for a few days now at the 113.30 area. I expect a bearish move down to 112.65 where we will reassess what the market is telling us. However, due to the previous major bullish moves, I predict further downward pressure to the 111.84 area.
Also a nice double top formed on the H1 chart.
In my opinion, the trend is changing on the USDJPY. It has bounced off major resistance for a few days now at the 113.30 area. I expect a bearish move down to 112.65 where we will reassess what the market is telling us. However, due to the previous major bullish moves, I predict further downward pressure to the 111.84 area.
Also a nice double top formed on the H1 chart.