#USDJPY H4. Bear's weakness
Bears have put a lot of efforts last week, but what's the result? -0,38%? Poor quality volume tells us about the inactivity of CO at the moment, so 'weak hands' have the opportunity to push the price.
If we switch time frame to m15, we can see small trading range that can be an accumulation or redistribution as well. So, let's just wait for a phase C.
Can we go up right now? We can, but looks at the last 8 candles and their volume signature and you will see the weakness or indecision. That's why I expect a new test of demand. I'll update this chart.
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