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USD/JPY: The current correction will give us better levels for a new short

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USD/JPY: Our Expectations: The pair holds its down trend, but the current correction will give us a better levels for a new sell with SL: 110.92

Alternative Scenario: If the price moves above the 110.92 will cancel the bearish view, as it will form a higher high.

Comment: Price remains below the Ichimoku cloud, which means that it is at a level of resistance as the down trend continues - negative signal.

Price below 50 ЕМА and below diagonal resistance - negative signal

Tenken sen below 50 ЕМА - negative signal

Lower highs - The short term movement is short, therefore as the price now is at a resistance level is a good place for short.

Stefan D. Angelov - Head of Stocks Trading


 Varchev Traders

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