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FX_Rhapsody
Oct 23, 2021 7:22 PM

USDJPY Breakdown Analysis Long

U.S. Dollar/Japanese YenFXCM

Description

To be honest, I'm not a 100% sure to what's going to happen with this pair this week. What I do see is that liquidity was tapped just above previous resistance, and price retracing down, how far? not sure. The first area lies just below where price finds itself now and the next key area will be the zone between the 62% - 79% Fibonacci area. I will definitely keep a close eye on the lower timeframes when price get to these areas for buy opportunity. COT reports shows massive amount of short positions added to the YEN which indicates a bigger push to the upside.
Comments
helpfulCode38110
sir i see w1 is getting rejection and bolengarband and rsi is over bought maybe its come down
UnknownUnicorn493766
Loks promising
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