USDJPY SHORT OPPORTUNITY

2 May 2021

Price is generally in a downtrend after the previous high on 22 March 2021 on the weekly TF. The daily TF presents price impulsively at 109.342. Theres a probability of it breaking the level in a false breakout and then coming back into the trendline for the short i anticipate to level 107.491. The 1 hr however shows price currently in a consolidation phase forming a flat continuation pattern to the upside before it can make the downward movement.