USDJPY Jan 19, 2020

We might be seeing a trend reversal because of a few factors. First of all, we are seeing a touch on the trend line and a rejection. We can also see an "M" pattern forming in the 240-minute timeframe (4 hours), which might lead to a bearish movement to the downside. The last factor is the bearish divergence and the overbought condition the currency pair is in. This is why I am going to short this pair.

Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.