What moves usd jpy – Expect Short Term Sell Setups

USDJPY Expect Short Term Sell Setups by jojofang0901 on

Most of the USD and JPY are looking to continue the strength,
and looking at USDJPY’s price action, I am more leaning towards the JPY strength to lead to a sell potential.

We can see that price is now forming a potential double tops, together with the ascending channel correcting to the previous highs.

we could see price forming the “M” style reversal structure, and expecting the bearish price action to breakout from the channel and continue.

Personally I would be patient here, and wait for price to break down first impulsively,
and follow by continuation correction on the lower time frame for the entry down to previous lows.

Credit: jojofang0901

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