RLinda ! USDJPY-> waiting for a reversal pattern...

USDJPY continues to fall, the price observes the boundaries of the descending range. The currency pair is testing channel support and forming a pullback. What's next?

The trend is descending and the priority is to expect a fall in price, but at the moment we see a forging of the ascending set-up, the nearest target of which might be the resistance at 131.25. Counter-trend trading is always a big risk. The priority is waiting for the continuation of falling prices from the resistance of the descending channel.

I expect strengthening of the price to the resistance area of 131.25 and formation of reversal pattern. Liquidity and support area of 127.45 will be the sales target.

Regards R.Linda!

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RLinda

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RLinda