usd-jpy-15m-FXITrend is bearish in USD/JPY currency pair 15 minutes time frame. Short term vital resistance is present at 121.29 price level. Based on Elliott wave count, market has printed bullish wave 4 pull back. Now, I expect price to resume the down trend towards  120.55 price level in next coming trading hours. However; a bullish break out in price action above 121.29 resistance level will in-validate the bearish outlook and in such case I will stay out of the market and re-analyze the price action in USD/JPY currency pair.

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One thought on “USD/JPY down trend in 15 minutes”

  1. Damith says:

    excellent analysis as this is [almost] exactly what happened….if you had followed this suggestion you could have made many pips both on the down/bear and then on the up/bull…

    very good!!

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