USDJPY Spinning Top and Shooting Star Pattern

USDJPY Spinning Top and Shooting Star Pattern

USDJPY trading at its weekly resistance zone. Price took away the upper resistance and created a fake breakout for the day.

Daily chart showing a shooting star pattern need a confirmation candle to complete the pattern and go against the trend.

While in weekly chart we can see seven day straight bullish movement towards its resistance and last candle formation is a spinning top pattern which also indicate a reversal might happen here if the candle followed by a bearish candle.

 

Key Points

– Weekly Resistance

– Daily Shooting star

– Weekly Spinning top

– Confirmation candle

Daily

USDJPY Spinning Top and Shooting Star Pattern

Weekly

USDJPY Spinning Top and Shooting Star Pattern