USDJPY Potential for bearish drop

2022年7月25日

On the H4, with price broken out of the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will rise and drop from our sell entry at 136.716 where the overlap resistance is to the take profit at 134.801 where the swing low support and 61.8% fibonacci retracement are. Alternatively, price could break entry structure and head for stop loss at 137.771 where the pullback resistance and 61.8% fibonacci retracement are.

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