FX.co ★ remington.kihn | USD/JPY

Pair USD/JPY.

The Vertex indicator on March 18, in the final hours before the close of the American trading session, signaled that the currency pair was overbought, leading to a sharp decline in quotes. There has been no confirmation of the indicator signal yet. The 200 and 50 period moving averages show a stable uptrend, contradicting signals from other indicators. It is worth noting that both moving averages were breached from top to bottom by candles, indicating weakness among buyers. Sellers managed to form a 1-2-3 pattern, demonstrating their intention to reverse the trend downwards. Additionally, sellers were able to confirm the 1-2-3 pattern by breaking through the 159.545 level, signaling their strength. In this situation, I will wait for a price pullback to the weekly pivot level at 158.916, where I will enter a short position.