USD/JPY: bears make decisive steps

USD/JPY: bears make decisive steps

Recommendation:

SELL 112

SL 112.55

TP 111

On the daily chart, the fact that USD/JPY left the short-term uptrend channel points at the seriousness of bears. If they manage to hold the USD below 113.00, the odds of a 5-0 pattern will increase.

JPY1.png 

On H1, the senior “Shark” pattern is transforming into 5-0. Bears managed to return the pair below important levels of 113.25 and 112.80. They want to trigger the junior pattern with a target of 88.6%.

JPY2.png

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