USDJPY 1H

13 May 2020

Pair has channeled down to a reaction zone. My preferred is we break up above a descending line, retest and head back up to the 38 Fib extension line. If we break down, look for a retest of broken support line before taking a sell position.

Wait for confirmation candles!

13 May 2020

Not

Here's a closeup view of the descending line I'm looking for a break above. Red arrows are the closer view pattern I'm looking for.

13 May 2020

Not