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mrsceleste

USD/JPY SHORT IDEA

Short
U.S. Dollar / Japanese Yen (OANDA:USDJPY)  
mrsceleste Updated   
OANDA:USDJPY   U.S. Dollar / Japanese Yen
Fibonacci Candlestick Analysis Moving Averages USDJPY usdjpyshort uj
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4
fibonacci candlestick movingaverage usdjpy usdjpyshort uj

This idea is for educational purposes only
USD/JPY 0.23% is in a bear market; the pair experienced retracement and rejection around the 38.2% fib level. Expect price to continue toward 109.000 area. The 50 MA (red) is also trending downward. Expectation is that price will pull back to the 8 EMA (black)
Comment:
snapshot

We see price is bouncing off of a trendline; the market is still bearish. We could see a bounce and retracement before price continues it's bearish path.
Trade closed: target reached:
Target Profit Reached!
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