• Vasily Trader

USDJPY May Drop! Here is Why: (forecast)

🔻USDJPY is still trading below a major falling trend line that we can identify on 3 days/ daily charts .

While the price is below that we remain bearish biased.

On a daily after a strong bullish wave from 103.2 level the price has perfectly stopped on that trend line .

In the next two days we saw a clear indecision with a sequence of two weak candles.

Yesterday's daily candle closed engulfing the range of the previous two candles.

It is a very strong bearish signal and based on that I expect a bearish continuation.

Next goal - 104.2