USD/JPY - Re-test of 114 within bear flag = Breakdown imminent?
- USD/JPY is still confined within what looks to be a bearish flag continuation pattern
- After retesting the 114 Physiological level last week, the pair pulled back from here to move lower
after the Fed's Powell speech which was interpreted as dovish
- This retest of the 114 level previously as well as the fact price was unable to make a break above this level
to me personally points to a breakdown of the bear flag pattern fairly soon
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- After retesting the 114 Physiological level last week, the pair pulled back from here to move lower
after the Fed's Powell speech which was interpreted as dovish
- This retest of the 114 level previously as well as the fact price was unable to make a break above this level
to me personally points to a breakdown of the bear flag pattern fairly soon
THIS IS NOT TRADE ADVICE NOR A TRADE CALL