USDJPY Wait for bearish reversal confirmation

Hi traders:

Looking at USDJPY now for possible bearish reversal entry opportunities.

We can see price had several attempts in the past to continue lower, but never had enough momentum to continue.

Instead price continue to consolidate within the current correctional structure.

What this development is telling us is that price is simply evolving into a bigger correction phase,
but the bearish downside bias from the higher time frame and lower time frame are still valid.

The latest development is price had a strong bullish push up the the previous high, and potential this could be the top now for the price.

Just like my previous analysis on the bearish sell, best to wait for price to had the first bearish reversal impulse down,
and follow by continuation correction for the entry to the downside.

Thank you

Commentaire:

No bearish price action, no reversal correction, so no entry and no trade. Observe the price first

Commentaire:

Price is now hitting the HTF swing highs, and signs of bearish reversal price action in the making. Will watch for LTF development, possible H and S