USD/JPY - Potential Targets & Outcomes
Dear Friends,
How I see it:
If price can find enough demand above 148.500, pair might attempt a rally.
Potential Long Targets - reasons indicated.
1) 150.185
2) 150.730
3) 151.173
If strong bearish behavior under 4HR trend persists with
DXY holding under 107.
Potential Short Targets -
1) 148.600
2) 147.324
3) 146.480
Key notes:
Price is currently at a pivot; possible reversal attempts or further decline.
I would only consider any rally a reversal "attempt" - above the 38.20% FIB.
Otherwise, all rallies will just be corrections.
In a bearish environment - SELL THE RALLIES.
Thank you for taking the time to study my analysis.
How I see it:
If price can find enough demand above 148.500, pair might attempt a rally.
Potential Long Targets - reasons indicated.
1) 150.185
2) 150.730
3) 151.173
If strong bearish behavior under 4HR trend persists with
DXY holding under 107.
Potential Short Targets -
1) 148.600
2) 147.324
3) 146.480
Key notes:
Price is currently at a pivot; possible reversal attempts or further decline.
I would only consider any rally a reversal "attempt" - above the 38.20% FIB.
Otherwise, all rallies will just be corrections.
In a bearish environment - SELL THE RALLIES.
Thank you for taking the time to study my analysis.
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.
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.