The USD/JPY is continuing its decline on the 4H chart. The pair does look fairly oversold at this point, and has also near completed an ABCD pattern on the back of a 50% retrace. Therefore, we expect the pair to bounce back a little, and we're waiting for it at the important role reversal level around 117.427. At that point, any sign of bullish exhaustion or new bearish firepower will trigger us short.
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CyMoon
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very good idea!! Iwill agree
next month I am expecting fall down near 112
next month I am expecting fall down near 112