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alexusjeff

USDJPY Waiting for Down Trend to end before continuing Up

Long
U.S. Dollar / Japanese Yen (FOREXCOM:USDJPY)  
alexusjeff  
FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Beyond Technical Analysis
3
0
trendanalysis beyondta
Price has been in an Uptrend for the pass decade. USDJPY is on a Uptrend to reach price 142.245 and continue further. I am looking for the retracement to the downside to end before buying further up. I am watching to see if the market will retrace to price level 139.433 at the 38.2% Fib retracement level and continue up for the uptrend. Price may continue down to the 88.6% retracement level to continue the down trend before continuing up.
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