USD/JPY Multi-TimeFrame Analysis
Monthly: Huge rejection of 112 level with two spinning tops and a huge bearish engulfing candlestick
Weekly: Break & retest of 108.5 zone with a nice shooting star rejection candlestick
Daily: Bulls failed to take controll of the market by breaking the ascending trendline. Bearn are now on controll
4Hour: We have a descending channel. Price retraced to our minor zone and fib 61.8 and also correlates with our 50 EMA
Waiting for price action to pull the trigger
#tradesafe
Weekly: Break & retest of 108.5 zone with a nice shooting star rejection candlestick
Daily: Bulls failed to take controll of the market by breaking the ascending trendline. Bearn are now on controll
4Hour: We have a descending channel. Price retraced to our minor zone and fib 61.8 and also correlates with our 50 EMA
Waiting for price action to pull the trigger
#tradesafe