Hi Traders! We have USDJPY potential bearish opportunity forming at the moment. A detailed analysis of this sell setup is as follows:
USDJPY H4 Chart:
On the H4 chart the price has broken below the uptrend line, which we may consider as an evidence of bearish pressure. In addition to this, the price has also created a false break with bearish divergence, which we may consider as another evidence of bearish pressure. Hence everything looks good here for the bears, if the price moves lower and breaks below the level at 110.50, 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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