USDJPY - Jump On This Impulse! 🔥
In our last USDJPY analysis, we were waiting to SHORT from the very top where the ascending channel and parallel channel converged. We had a really nice bearish reversal there.
On the higher timeframe, we are at the start of the move and got a lot of room to move down. See below:
We are currently seeing a nice bear flag retracement. Anticipating a 61.8 fibonacci rejection and then move down for the next impulse.
Trade Idea:
- Watch for price to retrace back up to the 61.8 fibonacci
- Wait for bearish rejection and enter with stops above that level
First Target: 112.5 (180pips)
Second Target: 111.6 (260pips)
Third Target: 109.5 (500pips)
Swing Target: 105 (900pips)
Do you agree?
Previous USDJPY analysis:
On the higher timeframe, we are at the start of the move and got a lot of room to move down. See below:
We are currently seeing a nice bear flag retracement. Anticipating a 61.8 fibonacci rejection and then move down for the next impulse.
Trade Idea:
- Watch for price to retrace back up to the 61.8 fibonacci
- Wait for bearish rejection and enter with stops above that level
First Target: 112.5 (180pips)
Second Target: 111.6 (260pips)
Third Target: 109.5 (500pips)
Swing Target: 105 (900pips)
Do you agree?
Previous USDJPY analysis:
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
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Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Related publications
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.
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Related publications
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.