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Profound_Ambition
Oct 6, 2019 6:16 AM

USDJPY H4 

U.S. Dollar/Japanese YenFXCM

Description

Price has reached key level support, where price has made many reversal at in the past. A bullish engulfing candle reaction was made here Friday after NFP, showing that this level could be the level to push price back to the upside.

Comment

D1: 2 daily rejection candles along with a doji candlestick on Friday at the 61.8 fibonacci pullback region which aligns with key level support after a double bottom to the the long term broken descending trendline was made.

Comment

Weekly: Better look at the long term trendline, & a potential right shoulder of the inverse head on shoulders formation could be completed this previous week.

Comment

Trade closed: target reached

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