Why BACD Cloud show that USDJPY might fall?

in bermaui •  5 years ago 

I have some reasons which tell me that USDJPY might correct its current trend in the near future.
First of all is that the Major trend is bearish since Oct 2018 and each time USDJPY rise it can't penetrate this major direction.
The last price move come in the form of a potential Ascending Wedge pattern which is a reversal pattern.
My momentum oscillator BACD Cloud tells me that there is a clear divergence that show weakness in price momentum.
Plus, that all this happen near a resistance area around 110

So, my conclusion is to watch USDJPY for any reversal in the current short term trend that happen in the direction of the major trend.

Bermaui.png

If you want to know what is BACD CLOUD:
https://lnkd.in/gBWFigF

Best regards
Muhammad Al Bermaui, CMT

bermaui forex metatrader4 divergence usdjpy
5 years ago by

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