USDJPY 4HR TRADING PLAN 7/8/2018
RETRACEMENT LEVELS ARE IN CONFLUENCE WITH BOTH UPWARDS TREND
AND DOWNARDS TREND. WITH .618 RETRACEMENT AND -27% FROM DOWNTREND (D1)
78.8'% RETRACEMENT LEVEL IS ALSO IN CONFLUENCE WITH DOWNWARD TREND -61.8 LEVEL.
BOTH LEVELS ARE SIGNIFICANT AND IF PULLBACK OCCURS AND EITHER OF THESE LEVELS HOLD
WE CAN EXPECT PRICE TO LAUNCH UPWARDS TOWARDS ITS 4HR RESISTANCE ZONE -27% TARGET OF 111.60 (MONTHLY RESISTANCE ZONE)
OVERALL MOMENTUM IS TO THE UPSIDE. IF BUY IS ACTIVATED STOP LOSS SHOULD BE PLACED
10-15 PIPS BELOW 78.60%
RETRACEMENT LOCATED AT 109.70.
AND DOWNARDS TREND. WITH .618 RETRACEMENT AND -27% FROM DOWNTREND (D1)
78.8'% RETRACEMENT LEVEL IS ALSO IN CONFLUENCE WITH DOWNWARD TREND -61.8 LEVEL.
BOTH LEVELS ARE SIGNIFICANT AND IF PULLBACK OCCURS AND EITHER OF THESE LEVELS HOLD
WE CAN EXPECT PRICE TO LAUNCH UPWARDS TOWARDS ITS 4HR RESISTANCE ZONE -27% TARGET OF 111.60 (MONTHLY RESISTANCE ZONE)
OVERALL MOMENTUM IS TO THE UPSIDE. IF BUY IS ACTIVATED STOP LOSS SHOULD BE PLACED
10-15 PIPS BELOW 78.60%
RETRACEMENT LOCATED AT 109.70.
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