Marenno

USDJPY Short term intraday review of current possibilities

FX:USDJPY   U.S. Dollar / Japanese Yen

On a 1H chart we have a bearish chart pattern



Price is currently at 38,2% Fibonacci retracement area (Filtered to 1H timeframe)
in a relation to previous swing Down
Due to all the mentioned above and a current price position (intraday - independant view) I will look for Bearish PA patterns to begin with at 120.55

"P.S.: Current short term analysis can look opposite to what I have posted of a higher grade. 
It happens because I’m reacting to a current market conditions, as big changes are starting with small. 
Also entry level on a higher grade chart can be a target on a lower grade chart"
In my honest opinion, when intraday trading, if opposite - directional price pattern appeared, then there is no need to hold further, as a better opportunity is possibly coming. so closing a trade might be a good idea.
"Any questions are welcome!!! just write down in comments.

Your likes are much appreciated."
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