USDJPY is a great pair!
DAILY- price is currently trading at previous break out low- 108.000
price was in consolidation between RES.109.600- SUP 108.450
support level 108.450 was broken, indicating bearish momentum
4H- RSI is over sold on this time-frame, so a retest of previous level is expected before the extension
1H- price has rejected 108.00 level twice, this solidifies the expected pull back of approx. 35-40 pips
ANALYSIS-108.450 was a daily key level of support,with this in mind IF price retest 108.450 level and rejects THEN i predict that price will continue downwards to levels 107.250 and further to 106.600
DAILY- price is currently trading at previous break out low- 108.000
price was in consolidation between RES.109.600- SUP 108.450
support level 108.450 was broken, indicating bearish momentum
4H- RSI is over sold on this time-frame, so a retest of previous level is expected before the extension
1H- price has rejected 108.00 level twice, this solidifies the expected pull back of approx. 35-40 pips
ANALYSIS-108.450 was a daily key level of support,with this in mind IF price retest 108.450 level and rejects THEN i predict that price will continue downwards to levels 107.250 and further to 106.600