1. Possible 76% retracement as an optimal entry zone for a short trade. It was briefly pierced but it isn't conclusive.
2. Supporting has been possibly broken but before we enter the trade this needs to be confirmed. As of now it appears price is courting the upwards. A decisive move downwards will give me the greenlight for a short.
3. Important to consider that the EMAs are and going against the trend will lead to a conservative TP at around the zone which coincides with the 400 white "spine."
1. Not really strong, but BOJ governor Kuroda has made dovish statements recently indicating the JPYs excessive weakness.
Looking to enter where the meets the 76 fib. Once we see some confirmation this will likely be a solid trade.