USDJPY just created a bearish candle strong enough to make it bearish before hand NFP. We will be taking the sell position from the 150.20 price level to continue pushing it down towards the support level. The trend on USDJPY is still bullish and the structure is higher high and higher low. This being said, I am just going to take the bearish position based on immediate trend.

The ascending trendline is in essence of breaking out for sells. Once its broken out, there will be a confirmation for the sells. 

EMA 50 is bearish right now and with the steeped curve, the market can further drop down.

RSI is at 45. It needs to neutralize at the 50 level in order to confluence with the technical factors.

Short USDJPY from 150.20

Nov 03 2023