Short Term Downside move on USD/JPY by ThinkingAntsOk
4H CHART EXPLANATION:
As we can observe, this pair is on a clear uptrend. However, it has reached the Resistance Zone and has been rejected there. Also, the Ascending Trendline of the last bullish impulse has been broken. Due to that, we consider that a short term bearish move is possible. Price is consolidating right now, so, if this consolidation is broken down, then the move will be confirmed.
DAILY CHART ANALYSIS:
As we can observe, this pair is on a clear uptrend. However, it has reached the Resistance Zone and has been rejected there. Also, the Ascending Trendline of the last bullish impulse has been broken. Due to that, we consider that a short term bearish move is possible. Price is consolidating right now, so, if this consolidation is broken down, then the move will be confirmed.
DAILY CHART ANALYSIS: