Quick idea.
After yesterday's strong slide, due to a change in the risk sentiment from risk on to risk off, USDJPY is now drifting lower. But this move lower could be classed as a temporary correction, before another leg of buying, because the pair is still above its short-term tentative upside support line drawn from the low of October 31st. But we need to wait for a break below yesterday's low first and only then we will aim towards the aforementioned upside line.
Please see the chart for levels and targets.
Don't forget your stop-loss.
After yesterday's strong slide, due to a change in the risk sentiment from risk on to risk off, USDJPY is now drifting lower. But this move lower could be classed as a temporary correction, before another leg of buying, because the pair is still above its short-term tentative upside support line drawn from the low of October 31st. But we need to wait for a break below yesterday's low first and only then we will aim towards the aforementioned upside line.
Please see the chart for levels and targets.
Don't forget your stop-loss.
Note
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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.