USDJPY H4

٣٠ يناير ٢٠٢٣

Price is following a downtrend making lower lows & highs. Price has pulled back to the 50 fibonacci retracement, along with retesting previous higher timeframe support as resistance creating a lower high. A head on shoulders formation is being formed here, & a breakout of the neckline to the downside may provide good selling opportunities for price to make a new potential lower low next.

٣٠ يناير ٢٠٢٣

ملاحظة

Weekly Timeframe: Break & retest / multiple rejection candles testing previous key support as resistance, & price can make its way towards the long term descending trend line & key zone below.