After considerable Yen weakness, xxxJPY pairs rose hundreds of pips. It seems like too unsustained of a move to me, so when such a strong short setup appears as shown above, It seems a very good opportunity.
Price reached a significant horizontal resistance zone
Price has made contact with the resistance trendline and shown a spinning top (inverted hammer?) candle, followed by a bearish confirmation to short.
This is as good as it gets, and even the indicator is in the upper band, indicating an exhaustion.
Price reached a significant horizontal resistance zone
Price has made contact with the resistance trendline and shown a spinning top (inverted hammer?) candle, followed by a bearish confirmation to short.
This is as good as it gets, and even the indicator is in the upper band, indicating an exhaustion.