USDJPY Bearish Idea

16 Kas 2021

Look at the attached chart for the weekly cycles. We are in a huge volume zone with 3 false breaks at the resistance level showing buyers are losing control. Bearish divergence on the histogram and building on the MA's shows we are due a down leg to at least the centre of the double top. In the long term I would be looking for a 38% retracement of the weekly move down to 11000