USDJPY Swing High| Local S/R| Price Action| Trend

Evening Traders,

Today’s analysis – USDJPY – trading towards a key swing high where a rejection is probable,

Points to consider,
- Price action impulsive
- Local S/R Support
- .618 Fibonacci Confluence
- POC Support Confluence
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USDYJPY’s immediate price action is impulsive, a swing failure pattern allows for a bearish bias.

The Local S/R is current support that is in confluence with the .618 Fibonacci and the POC. Holding this level is critical for a bullish bounce.

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

Hope this analysis helps

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And remember,

“Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.”
― Yvan Byeajee