Get started
UnknownUnicorn8714085

USDJPY - 50% Fib Rejection, 1:10 RR!

Long
U.S. Dollar / Japanese Yen (FOREXCOM:USDJPY)  
UnknownUnicorn8714085 Updated   
FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY usdjpylong Fibonacci Retracement swingtrade longposition
2
1
trendanalysis chartpattern indicator usdjpy usdjpylong fibonacciretracement swingtrade longposition
USDJPY - 50% Fib Rejection, 1:10 RR! After monitoring price action on this pair and conducting top down, multi timeframe analysis, I have noticed that price has rejected the key 50% Fibonacci Retracement several times and I believe that a strong push to the upside is due. With this being said, I have entered a long position with a great R:R of 1:10. I will consider taking partial profits when/if price reaches the -0.27% extension/107.000 key level.
Trade closed: stop reached:
-20 Pips
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.