TOFX24
Long

Retrace and Long

FX:USDJPY   U.S. Dollar / Japanese Yen
1) We should see a continued retrace to 108.800 (Fib=0.38) and a possible price consolidation before the bullish trend continuation to 111.200 OR a break of 108.800 and retrace to FIb 0.5 before bullish trend continuation
2) Looking left we can see strong price rejections (yellow circle) around the 108.800 price level which will cause us to believe that price will hit 108.800 and consolidate
3) Wait for confirmation of price direction before taking a position once price reaches 108.800

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out