USD/JPY
The main trend of the pair is a downtrend, as seen on a daily chart.
In the last two weeks the pair made his way to re-test a resistance diagonal line.
The current resistance level is 109.50, next to resistance line.
What we are waiting for?
First we are waiting to see that the pair will stop at this resistance area, then we’ll be waiting for a bearish pattern, it can be on lower time frames of 4 hour or an hour chart.
Another option is to see the pair crossing above the resistance line and then dropping back below it, this kind of a false break will be a good entry signal as well.
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