USDJPY - Bearish Power is going to EXPLODE! - Breakout Trading

Hi Traders!
The market is in an overall Downtrend.

Key Areas:

• Resistance @ 108.069
  
• Support @ 107.426
  
• Support @ 105.060
  
• Parallel Channel - ascending, completed
  
• Triangle "Breakout Triangle" - descending, active
  

Category:
- Breakout Trading
- Trend Continuation
- Price Action Trading
- Beyond Technical Analysis

Description:
As mentioned before, the market is in a Downtrend.
You can easily see that when you switch up to the H4-Timeframe or just zoom out.

The Parallel Channel was just a Retracement Move.
The Price broke out and then moved to the "Breakout Triangle".

Pay attention to the location of the Triangle: it is leaning against a former strong Support!
The market is making lower lows - the reason why the Triangle is descending.

If you combine that, you can think of what that means:
> The market is making lower lows --> More bearish Power.
> The price is moving near the Support --> Support is getting weaker.
> The Bounces are getting weaker --> Fewer and fewer Buyers.

--> --> --> Bearish Power is going to explode!

We recommend to trade the Retest of the Breakout!



Thanks and successful Trading :)!

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