Top and Bottom Analysis on USDJPY by ThinkingAntsOk
This is not a Trade Idea, use this as a frame for decision making based on where are the main technical areas on the chart
Main Items we see on the 4hs chart:
a)Price is against the lower trendline of the descending channel
b)On the same are mentioned in the previous item we have a secondary trendline (dots line) converging on the same spot
c)Convergences are major reversal zones
d)Currently, the price made a bullish movement, and we think the target of this movement is either the trendline of the previous corrective structure or the higher trendline of the descending channel
e)If the price reaches these areas mentioned on d) we will be looking for reversal signals or, symptoms of weakness of the bullish movement
Daily Vision:
Weekly Vision:
Main Items we see on the 4hs chart:
a)Price is against the lower trendline of the descending channel
b)On the same are mentioned in the previous item we have a secondary trendline (dots line) converging on the same spot
c)Convergences are major reversal zones
d)Currently, the price made a bullish movement, and we think the target of this movement is either the trendline of the previous corrective structure or the higher trendline of the descending channel
e)If the price reaches these areas mentioned on d) we will be looking for reversal signals or, symptoms of weakness of the bullish movement
Daily Vision:
Weekly Vision: