Weekly Outlook USDJPY

1 Nis 2019

This pair is showing some exhaustion and bounce right on the .618 level of the short-term bearish trend (that ultimately broke the extended uptrend), signifying a bearish sentiment in the short term. I'm expecting a double-bottom to form around the outlined areas of structure. Had this pattern been one in my strategy, I would probably be looking to short this pair for some quick pips off the bounce. Let me know what you think!