Hello Traders
USDJPY is in a big downtrend. you can see daily down trend line on the chart above the 4H trend line. we had some news monday that made a big bullish candle , but it can not be seen as e bullish pattern because it was just a correction to the 50 fib zone and rejected the zone and pushed it to the down side.
now price is going down respecting trend line and what im going to do is wait and see the support zone reaction to sell this pair.
if it break the support i will go short after the retest
and if it does not break it i will wait for break of trendline and then im long on this pair.
USDJPY is in a big downtrend. you can see daily down trend line on the chart above the 4H trend line. we had some news monday that made a big bullish candle , but it can not be seen as e bullish pattern because it was just a correction to the 50 fib zone and rejected the zone and pushed it to the down side.
now price is going down respecting trend line and what im going to do is wait and see the support zone reaction to sell this pair.
if it break the support i will go short after the retest
and if it does not break it i will wait for break of trendline and then im long on this pair.