USDJPY Hitting resistance and top trend line

11 thg 4, 2019

USDJPY is showing signs of reversal in 3 different ways. The bullish momentum is slowing down, indicating a possible price reversal. Price is also hitting the top trend line that I have charted. And price is hitting a recent resistance line. Though not charted, USDJPY is at the end of a reverse head and shoulders.

12 thg 4, 2019

Ghi chú

Error came from drawing my trend lines on a lower time frame. I drew them on the 4 hour, when I should've drawn them on the daily. This would've shown more room for the price to rise. Trends on higher time frames are always stronger.