USDJPY - Rising Trend Halted, Sell the Retracement
USDJPY has reached 114.5 and finally hit strong resistance at that level.
Last week, a reversal candle was formed in the W1 chart which already signals for probable reversal.
Additionally, a rising trendline was broken yesterday, enough to confirm a major retracement to take place.
Base on the market sentiment, it seems that the dollar is also having trouble to climb higher near 96.
Thus, shorting the dollar in short-term could be a wise choice for now and USDJPY seems like a choice to me.
Last week, a reversal candle was formed in the W1 chart which already signals for probable reversal.
Additionally, a rising trendline was broken yesterday, enough to confirm a major retracement to take place.
Base on the market sentiment, it seems that the dollar is also having trouble to climb higher near 96.
Thus, shorting the dollar in short-term could be a wise choice for now and USDJPY seems like a choice to me.