The currency pair USD/JPY is at strong Resistance from the Monthly chart, and the price hasn't been at these levels since 2015. STS_ATR_Distance_Indicator shows that since the beginning of the Month the price has passed 97% of its Monthly ATR (Average Monthly Movement for the last 6 months). STS_RSI_MTF_Indicator shows Overbought conditions from H4 to Monthly charts.
On the Daily Timeframe, the price has formed a Bearish Divergence.
Because of the above arguments, we loaded our STS_Zig_Zag_Bot to open short positions on each H1 candle in which we have an ascending 12-period Zig Zag and to close all positions on a descending 20-period Zig Zag on the Daily Chart.
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