FX:USDJPY   U.S. Dollar / Japanese Yen
191 2 0
When i look at a long term chart i use Fibo heavily and try to correlate trend lines . In this example price went to 98.50 area witch is the 50% retrace at 98.51.Missing the gap close from last week. Since then we gapped up again respecting the 50% monthly Fib. Along with the 50% and 61.8% fibo retrace. So as long as those areas continue to be respected I am projecting a short term move to close 2 gaps. AND wanting the 50% and 61.8% larger swing retracement ( Cream line) to be respected. If that happens then we should move higher potentially past the monthly fibo and potentially hitting the other areas I previously posted. Please note I also use this as preparation work for short term bias as I do trade the 15 min time frame. Keeps me in the trend. My Bias for today has been short.
Many thanks. But as of today it break through 100.22 do you think it will rise up to 100.50
wise analysis. you can target even 97.50 before switching long. good luck
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