USDJPY Intraday Retracement? 22.03.2022
It seems that the US dollar has been gaining greatly against the JPY the last few days.
looking back with a different timeframe it is obvious that the price has risen exponentially. That is why a reversal is more probable to happen.
In any case, the Stop Loss can be placed near above the limit line, limiting losses while the TP is way further in pips from the opening price, considering this a good opportunity.
Note: We can not use the Fibo tool here, the tool does not always work as we need to so we use lines.
looking back with a different timeframe it is obvious that the price has risen exponentially. That is why a reversal is more probable to happen.
In any case, the Stop Loss can be placed near above the limit line, limiting losses while the TP is way further in pips from the opening price, considering this a good opportunity.
Note: We can not use the Fibo tool here, the tool does not always work as we need to so we use lines.
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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.