The 4hr time frame suggets that the pair has broken its ascending trend and is ready for a pull back before continuing its trend upwards. Once it breaks the previous low at 102.945 where the Pivot support also exist, I would expect it to atleast goto 102.000.
However my target is at the 101.300 range where my hourly fib extension lies along with the 4 hour fib retracement.
I have been short on USD JPY before the triangle broke.Almost 100 pips in blue due to week USD performance today. Thanks to the Chinese and USD data.Waiting for another trade to open after 102.500
However my target is at the 101.300 range where my hourly fib extension lies along with the 4 hour fib retracement.
I have been short on USD JPY before the triangle broke.Almost 100 pips in blue due to week USD performance today. Thanks to the Chinese and USD data.Waiting for another trade to open after 102.500