FX:USDJPY   U.S. Dollar / Japanese Yen
206 5 4
Market Condition: Retracement

Target 1: 100% of Daily ATR

Target 2: 200% of Daily ATR

Invalidation: Bullish Breakout

The USDJPY             has continued to break down through key values of support from last week’s Inside Bar trading pattern. This includes dropping as much as 433 pips, below the July 2015 low at 120.41, to a low of 116.08. From this low price has retraced back to previous support, which is now acting as new resistance. If prices remain under 120.41, this can provide traders to sell with the markets prevailing direction on a retracement. Initial targets may be set using 1x current ATR, which today sits at 130 pips.

Alternatively, if prices rally through resistance, this raises the possibility that the USDJPY             is setting up for a broader retracement against this month’s previous decline. This would tentatively delay the execution of any new sell based positioning.

Thanks :)
Your welcome! Let me know if you have any questions.
SyedTalhaSaghir walker.england
Just hanging there. Lets see
claydoctor PRO walker.england
what is the next resistance for this pair?
claydoctor PRO claydoctor
providing we stay above that new support?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out