DXY / USDJPY Correlation Sell Setup

Technical Analysis

DXY 4hr

DXY had been struggling to breach pass the monthly resistance level from 2002. The immediate break of the bullish trendline show bulls are loosing momentum. I'd look to sell somewhere around the 61.8% Fib and WM3 bear zone with target at 100 psych or WM1 profit zone

USDJPY 4hr

Looking at USDJPY, it has somewhat a similar price action where bulls are struggling to breach pass 118 Psych or resistance level from early last year. Currently, JPY is weak across the board. I'd closely watch the price around WM3 level for reversal pattern to go short on this pair