Predicting a bearish reversal on USDJPY. Price rallied up towards 114.478 weekly resistance zone, however we are facing an overall bearish momentum which also reinforces bearish movement. Stop loss is placed above the weekly significant area, and take profit is placed at the next possible turning point (minor support zones) at 113.095.
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UnknownUnicorn228205
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The double bottom made this setup less likely. Bears were not able to drive price lower on the last move down, meaning either Bulls have gained strength or the bears lost enthusiasm and the balance of power is shifting towards the bull side.