USDJPY-H4-bearish cypher is waiting at key area

Sooner or later the consolidation on this pair should finish. My expectation is a strong breakout to the downside.
Looking at D1 chart price is making a small rally to the upside and is reaching a key area, where we have.

- trendline resistance
- ema 55 as resistance
- strong structure
- a big head and shoulders pattern could be forming

Here on H4 chart a bearish cypher pattern is waiting to be filled, i will place sell limit orders at the 120.500 level
SL and targets on chart

Best regards

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تعليق:

Trade active, lets see.