USDJPY Bear Trap Triangle

27 Nis 2020

On the right it looks like a bearish breakout, but i have a feeling it might become a bear trap. A lot will depend on the current 4H candle close. If that closes above the previous red body, it's a decent signs. if it would close above the other one as well, would be even better. If we would then see another test of that red resistance, it would increase the chances for a bear trap even more.

Ideal version would be see some consolidation on lower time frame against that red zone. If then a break of the resistance would happen and a strong rally towards the 108ish, could mean a bigger move up for coming weeks. But that will depend on how strong the rally would be then.


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Previous analysis:

28 Nis 2020

Not

Disappointment here, the 4H candle close looked so good, almost followed that blue line, but seems it was too weak and simply dumped since as the daily chart suggested it would. So where i hoped for a trap to develop, it didn't happen

28 Nis 2020

Emir iptal