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Technical Analysis EUR/USD

1 Hour Intraday Trading.

USDJPY  as you can see below at the chart was in uptrend until the 21st of February, then started a correction of the primary trend formatting consecutive lower tops and bottoms , something that indicates a down trend. A closer look of the graph showed everything we should know, as price formatted an ascending triangle and managed to break below of this last night with a rally, which is a normal move for a break out.

 Scenarios

We expect the price to correct once more the last rally move,   but then move again downwards and try to break below the S1 level.

A break below the S2 will give power to the Short Holders and will alert a possible rally towards new lows

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