USDJPY – Sell Opportunity
U.S. Dollar/Japanese Yen FX:USDJPY
The price forms a new swing low which is lower than the previous one. It tells us about possible trend reversal. If the price breaks the uptrend line and 111.00 level, it will give us a selling opportunity. Pending orders should be placed at 110.950 with stop orders above the swing high. Profit targets are at the support levels.
DMI is bearish with ADX line moving upward. It confirms that the bears have power for pushing the price downward.
Source: TW DLavrov