Trend is bearish in 4 hours chart of USD/JPY currency pair. Since yesterday, price is moving sideways. Vital resistance is present at 124.62 price level. Current price action looks a bearish symmetrical triangle pattern. Bearish Elliott wave count remains valid as long as price stays below 124.62 resistance level. If bullish candlestick closes above 124.62 critical resistance level then bearish forecast is going to fail. Hence, I might like to stay out of the market and re-examine the price chart.
