Indicators and patterns
The indicators for USD/JPY on a 30-minute timeframe are showing bearish signals:
1. STOCHRSI (Stochastic Relative Strength Index) FastK Indicator: This indicator is currently bearish, suggesting a selling opportunity. The FastK line is below the SlowD line, indicating potential downward momentum in the price.
2. Momentum Indicator: The momentum indicator is also bearish, signaling a selling opportunity. This indicator measures the rate of change in price movements, and a bearish signal suggests that the price may continue to decrease.
Both indicators align in their bearish outlook, indicating a potential downward trend in the USD/JPY pair. Traders may consider selling or shorting positions based on these signals.