I see USDJPY melting due to several reasons
It has been creating LH and LL
It has broken the counter trendline (blue)
I see it retesting the trendline (red) before going back down
The retest of the trendline is not only a support area but also a 61.8% on the fibonacci tool
Many confluences for it to keep going down
It has been creating LH and LL
It has broken the counter trendline (blue)
I see it retesting the trendline (red) before going back down
The retest of the trendline is not only a support area but also a 61.8% on the fibonacci tool
Many confluences for it to keep going down
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.