USD/JPY Daily Chart Analysis
The 8 EMA seems to be crossing below the 21 EMA indictating a downward trend
The 50 MA seems to be acting as a Resistance Line
An inside bar has also formed at a key level (the monthly support line), if price action breaks the Monthly Support as well as the 8&21 EMA Cross Over (Confluence) I believe Price will continue to Sell
Possible entry could be 300-1000 points below the Mother Bar formed in the Inside Bar formation
Weekly chart also shows 8&21 EMA cross over indicating a downward trend
Monthly is a little unclear at the moment
I will continue to look at this Pair closely too see where this trade will lead
The 50 MA seems to be acting as a Resistance Line
An inside bar has also formed at a key level (the monthly support line), if price action breaks the Monthly Support as well as the 8&21 EMA Cross Over (Confluence) I believe Price will continue to Sell
Possible entry could be 300-1000 points below the Mother Bar formed in the Inside Bar formation
Weekly chart also shows 8&21 EMA cross over indicating a downward trend
Monthly is a little unclear at the moment
I will continue to look at this Pair closely too see where this trade will lead
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