this is USDJPY on a 30 minute time frame.
on the 30th of August 2018 the pair dropped with huge Bearish move down to 110.700 before the bulls picked up momentum to move up towards 111.341
at this price I did not see any reason to why the pair would change direction after the original trend was a down trend
breaking the 0.618 Fibonacci level the Pair pushed up towards 0.786 on the Fibonacci or 111.692 before breaking the resistance line with a sharp drop down to 0.618 again
we have seen a Retrace from 111.150 to 111.440 which is 290 pips and should continue bearish
my entry is eyed at 111.340 and take profit at 111.100 and stop loss at 111.440
on the 30th of August 2018 the pair dropped with huge Bearish move down to 110.700 before the bulls picked up momentum to move up towards 111.341
at this price I did not see any reason to why the pair would change direction after the original trend was a down trend
breaking the 0.618 Fibonacci level the Pair pushed up towards 0.786 on the Fibonacci or 111.692 before breaking the resistance line with a sharp drop down to 0.618 again
we have seen a Retrace from 111.150 to 111.440 which is 290 pips and should continue bearish
my entry is eyed at 111.340 and take profit at 111.100 and stop loss at 111.440