• Vasily Trader

USDJPY: Bearish Trend & Continuation

USDJPY is trading in a strong bearish trend on weekly.

The price keeps following a major falling trend line and we see a sequence of lower lows and lowers highs since January 2017th.

This year we keep being bearish biased.

It looks like after a strong rejection from the upper boundary of a major support cluster in March, bears will try to test it again this year.

Remember that the market looks relatively oversold at the moment.

For safe entry, I would look for a pullback first and short trade would be strictly initiated on a lower timeframe after a confirmation.

Are you also bearish on USDJPY?

Please, support this idea with like. Thank you!