〽️ USD/JPY Bearish Impulse Remains Strong After Flag Break 〽️
Hi traders,
The USD/JPY downtrend continues lower after several breaks below the support trend lines (dotted blue). USD/JPY bearish momentum is expected to be part of a bearish wave C (pink).
USD/JPY
4 hour
The USD/JPY seems to be aiming for the 38.2% Fibonacci retracement level of wave E (purple), which is a potential support and bounce spot.
1 hour
The USD/JPY made a bear flag chart pattern and then broke below the pattern for a bearish continuation. Price seems to building two waves 5 (blue) within wave 3 (purple).
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Good trading,
Chris Svorcik
Elite CurrenSea
