The USD/JPY currency pair on the Weekly Chart has formed a strong Bearish Divergence. The STS_MA_Distance_Indicator shows that the distance to 10 EMA on a Weekly chart is 137 pips and the distance to 10 EMA on a Monthly Chart is 317 pips.
The STS_RSI_MTF_Indicator shows Overbought condition on absolutely all Timeframes. The STS_ATR_Distance_Indicator shows that since the beginning of the Week the price has passed 126% of its Weekly ATR (Average Weekly Movement for the last 6 weeks). These arguments give us a high probability of downward movement and that is why we loaded our STS_Zig_Zag_Bot to open short positions on each H4 candle in which we have an ascending 12-period Zig Zag and to close all positions on a descending 20-period Zig Zag. Currently the Bot has opened 1 short position.
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