USD/JPY bullish phase is finished

٢١ ديسمبر ٢٠١٦

USD/JPY has failed 2 times to break the 118.5 resistance. Historicaly this resistance is very strong and difficult to break for USDJPY. In addition, the currency has drawn a double top exactly on this resistance and the RSI and William%R are decreasing which confirms buyers are now resigned and sellers are winning the battle. USDJPY should then enter in a bearish configuration soon