In a still down sided trend the last days have pushed up deteriorating the bearish perspective for the USDJPY.
mostly of this upside advances had been done in a very iliquid market and sorrounded by fundamental news about Sizo Abe taking or not steps towards the hike in the VAT.
Yesterday ended the day forming a clear japanese candlestick signal named evening star
The las decisive day closes below the 60% of retrace from the highs that compose the pattern so it is validated. even more the candle closed near the bottom side, so the pattern seems to me pretty clear.
Even more, the pattern is formed rejecting the price to be above the 61.8% of the retracement, or what is the same, keeping at least the 382% of the original impulse.
Then the chances to go after the 93.82 support (or at least till it), still in place
But be aware of the close above the 98.70 will make pretty slim the chance for a more decline if that occurs.
mostly of this upside advances had been done in a very iliquid market and sorrounded by fundamental news about Sizo Abe taking or not steps towards the hike in the VAT.
Yesterday ended the day forming a clear japanese candlestick signal named evening star
The las decisive day closes below the 60% of retrace from the highs that compose the pattern so it is validated. even more the candle closed near the bottom side, so the pattern seems to me pretty clear.
Even more, the pattern is formed rejecting the price to be above the 61.8% of the retracement, or what is the same, keeping at least the 382% of the original impulse.
Then the chances to go after the 93.82 support (or at least till it), still in place
But be aware of the close above the 98.70 will make pretty slim the chance for a more decline if that occurs.