FX:USDJPY U.S. Dollar/Japanese Yen
USDJPY has formed a candle on the 1HR chart, indicating possible upcoming movement. The candle is supported by a strong 12-month-long that price has respected 3 times previously dating back to January, 2015. At the PRZ, a has formed on the . The wick falls on a series of fib levels from structure lows to structure highs, adding to the probability of support in that area. Entry is placed at the broken horizontal resistance on the 1HR chart with SL at the . and target at the unhit monthly for January, 2016. This setup yields a R/R of about 5.6.