USDJPY Monthly shows a strong bullish engulfing pattern. This bullish rally has driven its way to supply zone at 105.139 with tons of weekly candles showing rejection at that price level. last 3 daily candles show bearish pressure with respects and volume filling below the 105.000 area. H4 chart shows the last 6 candles with bearish signals. With the HH and HL formations, we may see rejections downward to the 104.850 and possible 104.600. H1 Chart is showing Bearish ascending forming.
outlook: the bearish signs, alongside with the patterns and technicials; have me in a bearish bias for the next trading day and will be shorting intraday.
outlook: the bearish signs, alongside with the patterns and technicials; have me in a bearish bias for the next trading day and will be shorting intraday.