#USDJPY:
Overall, the price has been trading in a massive descending triangle, confirming the downtrend, as well as the price below the 200 EMA. Last vaccine news created a fakeout. Right now, we are seeing another break to the downside.
(1H):
Looking closer, we can see that the retest already occurred. We can also spot a head and shoulder, which is working as a continuation pattern (if confirmed to the downside). What's interesting here is the right shoulder, formed by a small triangle.
If we get a break of it to the downside, as well as a neckline break and retest, i will be interested in a sell position.
Overall, the price has been trading in a massive descending triangle, confirming the downtrend, as well as the price below the 200 EMA. Last vaccine news created a fakeout. Right now, we are seeing another break to the downside.
(1H):
Looking closer, we can see that the retest already occurred. We can also spot a head and shoulder, which is working as a continuation pattern (if confirmed to the downside). What's interesting here is the right shoulder, formed by a small triangle.
If we get a break of it to the downside, as well as a neckline break and retest, i will be interested in a sell position.