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May 27, 2020 7:28 AM

USD/JPY approaching resistance, potential reversal | 27 May 2020 Short

U.S. Dollar/Japanese YenFXCM

Description

Price is approaching our resistance in line with our 61.8% fibonacci retracement and 100% fibonacci extension and horizontal pullback resistance where we could see a reversal below this level to our first support level. Cheers!

Comment

Sell entry : 107.691
Stop Loss: 107.825
Take profit: 107.360
Comments
Supriya_Rong
Thank you for explaining in detail. Analysis has been done using 30m time frame. Want to know, in case of intraday trading which time frame is best.
SJSFX
Very nice overall ideas. Would you post the ideas for NZDCAD, AUDCAD and CADCHF as well pls? Big thanks.
FXCM
@SJSFX, thank you! will be doing that in our upcoming videos :)
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