USDJPY: Watch For Longs In This High Probability Buy Zone

FX:USDJPY   U.S. Dollar / Japanese Yen
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Price has broken above a daily dowtrend and we already see that a pullback has started. In case that price retrace to test the broken downtrend it will enter a zone where we have the lower parallel of a upslope median line and the 0.618 fib retracement of the upmove whch broke the downtrend. All meet at a zone where any buy setup completion will be a great opportunity.

Have a nice trading week..!

Daily downtrend:

retraced at fibo 0.382
Thanks for sharing
MANOLIS PRO Fxprotrader
No no, Thank you for your sharing FXprotrader :)
Chart looks just like mine :D!!!
Good to know mate :)
It might only retrace 0.382 too. I have seen that these trendlines are rarely retested when everyone expects and wants it to enter longs.
I will keep an eye for buys prior to that deep retracement. But this buy zone i have drawn looks solid if we have price action in there. Thanks for passing by Ivan :) I hope you are doing fine :)
+1 Reply
IvanLabrie PRO Fxprotrader
Thanks, you too, worth to follow it closely for sure.
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