- 1/ USD/JPY was supported at 118.700 on Jan 4, which was the previous support and weekly uptrend's support.
- 2/ Since it couldn't break the previous Low of 118.700 in 1-hour chart so far, and just made a little higher low which is not very significant through, it's still more likely to get back to 61.8% of Fibonacci Retracement.
- 3/ Long at 119.135, SP: 120.214 (61.8%), SL: 115.570
Risk/Reward ratio:1.92
- 4/ Be aware of the risk is that the price is now under the MA Lines, and the USA employment data is coming on Friday.