USDJPY Double Top Formation and Trading Strategy
USDJPY has exhibited a clear double top formation on its 4-hour chart, breaking below the neckline and confirming the pattern's establishment.
This movement undeniably signals a bearish outlook.
Investors are advised to enter at the current price, setting a stop loss at the peak of the double top.
For profit-taking, it's recommended to utilize the Fibonacci Retracement levels, targeting the 2.0, which is at 143.292.
This movement undeniably signals a bearish outlook.
Investors are advised to enter at the current price, setting a stop loss at the peak of the double top.
For profit-taking, it's recommended to utilize the Fibonacci Retracement levels, targeting the 2.0, which is at 143.292.
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