bearish flag pattern on dollar yen

27 Şub 2019

hey guys,

very interesting market sentiment on usdjpy pair.

as you see, we have a very nice rising channel.
reaching 111.0 level we see a formation of a double top pattern and rsi divergence.
the market leaves us clues that bullish momentum is exhausted and potentially
bears start to pressure the market.

right now I will be looking for a bearish violation of 110.4 level.
this violation will trigger a massive selling reaction from market participants,
so we can anticipate strong bearish movement to lower levels.

good luck!

27 Şub 2019

Not

no breakout...
retest of the high

28 Şub 2019

Emir iptal

new higher high