USDJPY 09042017
09/04/2017: I am currently bearish on the pair.
Monthly: We tested and rejected 108.724, but still closed slightly lower on the monthly. EMAs are crossed down. We had a spinning top type candle, representing indecision which is true based on current consolidation.
Weekly: We pushed up and test the 8 EMA which was rejected, but we formed a hammer type candle stick indicating possible upside.
Daily: We are currently in consolidation and coming off a FIB retracement (Slowly). We also see a double Top forming and a bearish flag as we are making lower highs. I am currently on the side lines on this pair until we have more clear information.
Monthly: We tested and rejected 108.724, but still closed slightly lower on the monthly. EMAs are crossed down. We had a spinning top type candle, representing indecision which is true based on current consolidation.
Weekly: We pushed up and test the 8 EMA which was rejected, but we formed a hammer type candle stick indicating possible upside.
Daily: We are currently in consolidation and coming off a FIB retracement (Slowly). We also see a double Top forming and a bearish flag as we are making lower highs. I am currently on the side lines on this pair until we have more clear information.
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