I found a massive drop yesterday on USD/JPY. Anyway, the price did fake breakout of the yesterday's low and returned into yesterday's range, which is a sign that we may at least see an upward correction. My advice is to watch for buying opportunities.
Targets are set at the price of 111.40 and 111.80
Trade safe, Best Regards, Petar
Comments
Junaid
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Peter
What a reason of pivot above resistance 111.80...?
Pivot is 111.74 today
PetarJacimovic
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@Junaid, Hello, Junaid
That is nothing more than 50% retracement of yesterday drop.
I'm with you on that! That is absolutely correct ;)
PetarJacimovic
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@TradZ, Thank you Tradz, we will see. Just smart ideas and safe risk control that is all you need. :) Smart money probably made secured low for today but tomorrow is a critical day for me. It will be interesting to watch...
TradZ
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@PetarJacimovic, I believe it was a nice spot to get back in the SHORT ;)
And yes 2mrw will indeed be interesting!
PetarJacimovic
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@TradZ, Hello there,
I wouldn't touch USD/JPY on the sell side. Today smart traders secured low as I expected and tomorrow will be interesting to watch what's going to happen.
TradZ
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@PetarJacimovic, Your right as usual ;) Glad I was able to get 0ut of tht nice SH0RT-Scalp. Now I'll jus wtch to see how far price retraces.
What a reason of pivot above resistance 111.80...?
Pivot is 111.74 today