In the 60 min chart of the USD/JPY you may notice that there is a regular bearish divergence, as the price is still making HH, the RSI is making HL.
If the price closes below the line I had drawn and it came out of the parallel channel, it may be confirming my Bearish bias. There was also a rejection at the R1 fib pivot level, there was an attempt to push the price back on top, but it was rejected.
"Manage the risk, and the reward will take care of itself"
Happy Trading :)
If the price closes below the line I had drawn and it came out of the parallel channel, it may be confirming my Bearish bias. There was also a rejection at the R1 fib pivot level, there was an attempt to push the price back on top, but it was rejected.
"Manage the risk, and the reward will take care of itself"
Happy Trading :)