JamesZhang
Short

USD/JPY Short-term Analysis

FX:USDJPY   U.S. Dollar/Japanese Yen
161 1 2
You may see the price the broke the head line( purple line ) at 125 .
And it pulled up to 126 which is the 161.8% Extention Position of Fobonacci of 123.8 to 125.05.
Then fell back to the Extention position of 138.1% .
I believe the price of USD/JPY             will keep following the regular pattern of Fibonacci.
We may look forward to see the price pull back to previous hightest point of 125.050 or even come to 124.700 which is lower bound of 4hours' Risiing Channel.
And the target of short-term is 127.088 which is the 261.8% Extention of Fibonacci.
The price now is moving to the first support position which is the first buying position,
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