USDJPY - Indications For End Of Uptrend

27 oct. 2021

Here is the summary of the indications:

• Weekly Resistance
  
• Start of Consolidation
  
• LH & LL in former Uptrend
  
• Trendline Break
  
• MACD Divergence
  
  Future Possibilities:
  
• Range
  
• Downtrend
  
• descending Channel
  

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Hi Traders!
The setup of this idea starts with the fact, that the market was in an Uptrend for a very long time.
Now it has reached the weekly Resistance, where it starts to consolidate now.
After this, the price broke out of the H4-Trendline.
It even made a Lower High and a Lower Low.
Also, the MACD Oscillator shows a medium Divergence.

Now, they're these possibilities:
- Either it starts a further Range
- Or it starts a Downtrend / descending Channel


What do you think about USDJPY? Feel free to post your idea here!



Thanks and successful Trading :-)!