CONTINUATION OF USDJPY ANALYSIS FROM PREVIOUS ONE
1. Overall, the pair has been bullish and it reached the peak and created a new supply zone and a demand zone and consolidated.
2. The previous demand zone looks like has been broken (further confirmations needed / closing of 4H or D candlestick below the zone)
3. Let let the pair fall, XABCD pattern provides more confluence
TIP :
1. This might mean investors are taking out their money from JPY considered as a "Safe-Haven"
2. Check CADJPY (+ correlation) and EURCAD (- correlation)
1. Overall, the pair has been bullish and it reached the peak and created a new supply zone and a demand zone and consolidated.
2. The previous demand zone looks like has been broken (further confirmations needed / closing of 4H or D candlestick below the zone)
3. Let let the pair fall, XABCD pattern provides more confluence
TIP :
1. This might mean investors are taking out their money from JPY considered as a "Safe-Haven"
2. Check CADJPY (+ correlation) and EURCAD (- correlation)