scamuzzi

USDJPY CURRENT RANGE AT RESISTANCE

FX:USDJPY   Đô la Mỹ / Yên Nhật
Where price is now for the yen i think many traders would be looking to short at this current level of resistance. Since price has not yet made a lower low, and is still respecting both the ascending trend line as well as the descending trend line, i think price could possibly range or make another move to the upside to retest the high, or find rejection at the descending trend line (with what seems to be a bat pattern formation on lower time frames). In that same breath i think the head and shoulders pattern is justifying all opportunities to short when a break of the upward structure is clear enough by a break in the ascending trend line with multiple rejection to the upside as well as a lower low to indicate the trend direction has officially changed
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