robrhoden

Piecing Thoughts Together // Basic Outlook

FX:USDJPY   US-Dollar / Japanischer Yen
USDJPY             has been floating around an area of very strong resistance.

Is momentum slowing for the bullish behavior? & where do you expect the pair to go?

There are certain chart patterns I look at from both ends of the spectrum.
There's a certain "smell" with the current chart pattern that has formed on the 4H.
Bullish then bearish then bullish but with higher and higher highs.
There's a junkie ready to crash and burn.

So my stand on it's projection is relatively focused on movement towards the downside
BUT there's always the possibility of price to break past the resistance zone again and move to the upside.
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