USDJPY Bearish bias
Atualizado
USDJPYPrice moving in Bearish Channel in Daily Timeframe and we can see price is at wave 4 of the Elliot pattern. Also, price rejected the support and now it is retesting that support.
On the 1H timeframe, price is moving in a corrective bearish flag pattern and there is a Bearish Divergence on RSI. Also, the price created a double top.
Based on these all confluences, the bearish bias is confirmed.
Now, waiting for the break of 1H corrective pattern to enter short (Sell). Stop Loss is above the previous high and above the long term trendline. Take Profit is at previous swing low, which is 1:3 Risk to Reward.
Thank you.
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