apphiapatten

USDJPY: D1 (Go long!)

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Daily Timeframe
- Price has held between 0.618 to 0.382 levels
- Bearish candle has formed below previous bullish candle
- Price has tested resistance twice before.
- Price may retest the resistance line again before breaking
through

4Hourly Timeframe
- Confluence around resistance level
- Price tested resistance again


On smaller timeframes; price has tested and retested resistance line a countless number of times. This shows a strong resistance zone and respect of this area. On these timeframes; price is on a downtrend.
Wait for confirmation candle to see what price will do next.