Hello and welcome to my Trade Idea of the currency pair USD/JPY.
Let's start with the Top Down Analysis.
Monthly: We see on the monthly timeframe a very strong bearish trendline. Because of that my view is bearish.
Weekly: Here we recognize lower highs.
Daily: The daily timeframe shows a nice trendline. Also we see a bearish engulfing candlestick formation at a strong level.
Have a nice day.
Let's start with the Top Down Analysis.
Monthly: We see on the monthly timeframe a very strong bearish trendline. Because of that my view is bearish.
Weekly: Here we recognize lower highs.
Daily: The daily timeframe shows a nice trendline. Also we see a bearish engulfing candlestick formation at a strong level.
Have a nice day.