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koppy

USDJPY Hitting resistance and top trend line

Short
Dollar Américain / Yen japonais (FX:USDJPY)  
koppy Mis à jour   
FX:USDJPY   Dollar Américain / Yen japonais
Chart Patterns Trend Analysis Forex
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chartpattern trendanalysis forex
USDJPY is showing signs of reversal in 3 different ways. The bullish momentum is slowing down, indicating a possible price reversal. Price is also hitting the top trend line that I have charted. And price is hitting a recent resistance line. Though not charted, USDJPY is at the end of a reverse head and shoulders.
Commentaire:
Error came from drawing my trend lines on a lower time frame. I drew them on the 4 hour, when I should've drawn them on the daily. This would've shown more room for the price to rise. Trends on higher time frames are always stronger.
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