USDJPY Is Bearish! Short!

5月26日

Take a look at our analysis for USDJPY.

Time Frame: 30m
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is testing a major horizontal structure 142.838.

Taking into consideration the structure & trend analysis, I believe that the market will reach 142.464 level soon.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

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5月27日

交易結束：目標達成

That was an excellent trade and the target was reached too!