USDJPY, Bearish pressure incoming
2019-12-28 00:59:43
OANDA:USDJPY 1H chart
On the 1H chart, we can see that the chart has a few confluences,
1. Price rejected off the 0.886 fib level of the initial 3 wave down move
2. Price also rejected off the 3rd touch of the minor trendline
3. Price also rejected off a minor parallel channel
4. With the latest move down, price attempted to push up but got rejected quickly off the 0.618 fib level and took out a large portion of the previous bullish engulfing bar