Hi Traders! USDJPY bearish flag provides sell opportunity for us. A detailed analysis of this potential sell setup is as follows:
USDJPY H4 Chart:
On the H4 chart we have a classical scenario of bearish divergence followed by bearish convergence, which we may consider as an evidence of bearish pressure. Currently it looks like a correction is happening, once the correction completes itself we may expect the price to move lower further. Hence we may now look for more evidences of bearish pressure on lower timeframes in order to join the bears.
USDJPY H1 Chart:
On the H1 chart currently the price is moving inside a bearish flag pattern. If the price breaks and holds below the bottom of this pattern, we may consider this as an evidence of bearish pressure. We may then start looking for sells with more bearish evidences.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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