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InkyGrip
Jan 19, 2021 6:37 AM

USDJPy looking up 🦐 Long

FOREXCOM:USDJPY240
U.S. Dollar / Japanese YenFOREX.com

Description

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USDJPY after the last impulse retraced until the 0.382 Fibonacci level.
The market tested a few times with descending highs the support at the 103.600 level.
Currently, the price broke the descending trendline and if the condition of the Plancton's strategy will be satisfied, we can set a nice long order.

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Follow the Shrimp 🦐

Keep in mind.

• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.


Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.

Comment

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the market continue the retracement into a descending channel

Comment

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perfect move inside the descending channel
Trend AnalysisUSDJPYUSDjpy240min382 Fibonacci Retracement
Comments
FXCM
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Great idea! Here's my bearish idea on USDJPY.

InkyGrip
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@FXCM, nice analysis, thanks for sharing
abel11
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Very interesting buy
InkyGrip
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@abel11, thanks a lot my friend 😎
FXtrades-gp
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Perfect setup, nice long opportunity in this triangle pattern 👌👌
InkyGrip
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@FXtrades-gp, appreciate your comment! Cheers mate
TheSignalyst
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up then down right ;) ?
InkyGrip
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@TheSignalyst, yes a possible set up!
AmithS
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great
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