#USDJPY:
(1D):
The overall trend is bearish, technically and fundamentally, with further US stimulus that will eventually devaluate the US dollar. For these reasons, my bias is still bearish.
(4H):
After the massive range breakout, the pair started trading in a smaller bearish channel, currently the price is on its upper border and next relevant support is at 102.5.
(1H):
Looking for entry, we can better see how the bearish market structure is playing out on the chart, with a perfect series of LHs and LLs. However, last price action is pretty choppy, so i'm waiting for a clear bearish setup on the 1H.
(1D):
The overall trend is bearish, technically and fundamentally, with further US stimulus that will eventually devaluate the US dollar. For these reasons, my bias is still bearish.
(4H):
After the massive range breakout, the pair started trading in a smaller bearish channel, currently the price is on its upper border and next relevant support is at 102.5.
(1H):
Looking for entry, we can better see how the bearish market structure is playing out on the chart, with a perfect series of LHs and LLs. However, last price action is pretty choppy, so i'm waiting for a clear bearish setup on the 1H.