USD/JPY: bears want more
Read the article on FBS website
Recommendation:
SELL 105.35
SL 105.90
TP1 104.35 TP2 103.35 TP3 102.80
On the daily chart, the inability of bulls USD/JPY to bring the pair outside of the downtrend channel and keep them above 106.50 points at their weakness. To continue the decline towards 161.8% target of AB=CD, bears need a confident test of support at 105.35.
On H1, the transformation of the “Shark” into 5-0 allowed forming short positions. Triggering of AB=CD will allow bears to continue the decline towards 161.8%.
