InvestMate|USD/JPY Attention we are falling💱
💱USD/JPY Attention we are falling.
💱 Looking at the current move on USD/JPY that we have just made, it is hard not to get the impression that the next wave of declines has just begun.
💱In the first half of the day it might have seemed that we would start an upward correction but very abruptly the market reversed the trend and pointed the direction for the coming days.
💱 This is all due to today's events that took place on the US dollar.
💱Turning to the chart.
💱 Ahead of us, below is a strong support zone defined by a cluster of two strong fibo levels the first is the 0.382 of the entire upward wave from the 2020 bottom to the current 2022 top. The second level is the outer level of the 1.272 of the downward wave from the 2015 top to the 2016 bottom.
💱 In contrast, there is a strong resistance zone defined by a cluster of fibo levels. The first is the outer 1.618 level of the entire downward wave from the 2015 peak to the 2016 bottom. The second is the 0.236 level of the entire downward wave from the start of quotations 1971 to the 2011 bottom.
💱The scenario I am playing out is to break out of the new local lows and continue heading south to reach the support zone. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
💱 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
💱 Looking at the current move on USD/JPY that we have just made, it is hard not to get the impression that the next wave of declines has just begun.
💱In the first half of the day it might have seemed that we would start an upward correction but very abruptly the market reversed the trend and pointed the direction for the coming days.
💱 This is all due to today's events that took place on the US dollar.
💱Turning to the chart.
💱 Ahead of us, below is a strong support zone defined by a cluster of two strong fibo levels the first is the 0.382 of the entire upward wave from the 2020 bottom to the current 2022 top. The second level is the outer level of the 1.272 of the downward wave from the 2015 top to the 2016 bottom.
💱 In contrast, there is a strong resistance zone defined by a cluster of fibo levels. The first is the outer 1.618 level of the entire downward wave from the 2015 peak to the 2016 bottom. The second is the 0.236 level of the entire downward wave from the start of quotations 1971 to the 2011 bottom.
💱The scenario I am playing out is to break out of the new local lows and continue heading south to reach the support zone. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
💱 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 www.t.me/Investmatez 💲
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 www.t.me/Investmatez 💲
🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫🎫
