AzizKhanZamani

USDJPY POC |.618 Fibonacci| Price Action| Trend

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Evening Traders,

Today’s analysis – USDJPY- trading towards a key level of support where a bounce is probable,

Points to consider,
- Price Action corrective
- Local OB Support
(POC and .618 Fiboancci Confluence)
- Weekly S/R Objective
- Low Volume

USDJPY’s immediate price action is trading towards a technical trade location that has confluence with a Local OB, POC and the .618 Fibonacci, allowing for a bullish bias.

The objective is the swing high, exceeding this level will lead to a trend continuation.

The current volume profile is below average, an influx is highly imminent on the next expansion.

Overall, in my opinion, USDJPY is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis help,

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