USDJPY Bearish Sell Potential

Hi traders:

USDJPY is also developing into some bearish price action on the lower time frames, and we could potentially look for short term sell entries.

We can see from the higher time frames that price had a false breakout of the larger channel,
then a strong reversal impulse down from the top.

After a sharp move, naturally price needs to form correction before any continuations.

Here on the LTF we are see that channel like correction,
and price formed a few swing highs and lows to potential complete such correction.

Look for continuation on the LTF to see if price has enough momentum to breakout, and continue down the previous lows.

thank you

Kommentar: