USDJPY: Approaching potential resistance confluence

U.S. Dollar/Japanese YenFXCM

Description

⋅ Sep 21, 2017 8:57 PM

Another potential trade in the USDJPY, as the price approaches the 1.618 extension for latest bearish wave in addition to the 78.6% retracement for the overall bearish wave.

This is just a highlight for level, and it is not forecast or a trade yet. A confirmation that this is a valid resistance remains needed to initiate the trade.

Will be posting on new developments.

Best
Technician

Fibonacci

Comments

JayM

⋅ Sep 22, 2017 6:40 AM

USD/JPY in up trend. Target is 125.00.

lidyae

⋅ Oct 4, 2017 9:41 PM

hi @Technician! any updates in this forecast? already in the zone :)

DrXoX

⋅ Sep 22, 2017 2:42 PM

Thank you

Xiaoyi419

⋅ Sep 22, 2017 7:22 AM

It works

rustamnasirov

⋅ Sep 22, 2017 4:32 AM

Technician, did you mean 1.618 retracement?

siarian

⋅ Sep 22, 2017 12:37 AM

I do see divergence in 4H TF as well. There is a possibility to go short on the break of the structure.

Danidiaz1977

⋅ Sep 21, 2017 9:16 PM

Hi!, great analysis!. What confirmation are u looking for? TL break? you wait for just break? or closing after the break?

Thanks, great job

NateTheGreat7

⋅ Sep 21, 2017 9:08 PM

looks good

sufyanhabib

⋅ Sep 21, 2017 9:05 PM

Bearish its gonna be...