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Sunday, October 31, 2010

USDJPY 1st November shows hammer candlestick and prices breakthrough Double bottom support line! A potential bearish signal

Hi fellow traders,

Today I have made my trade on USDJPY on a H4 timeframe at price 80.51.
Okay, now lets look at the chart below :

USDJPY on 1st November  


My analysis told me that it would be a bearish trend for now as it has broken through the double bottom, and has a confirmation candlestick.
So, what do you think about this pair at this time?

Regards,
Daniel

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