USD/JPY breaks below diagonal support for probable new downward impulse

USD/JPY 28.12.2016 H4 chart.

Price stops below diagonal resistances from D1 chart.

Triangle formation and break below diagonal supports for probable reversal of the short term upward movement.

Technical indicators:

Break below 50SMA – negative signal.

Fundamentals: Stock markets declines will support JPY, as on the other side positivism after Trump election and the rate hike are till its end.

SL 118.05

We can wait for a break and test below 117.10 or now.

Jr. Trader Nikolay Georgiev

 Varchev Traders

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