Entry Price: 157.319 Stop Loss: 157.200 Take Profit 1: 157.500 Take Profit 2: 157.680
Reason for Entry:
The entry price of 157.319 aligns with a strong daily support level and Fibonacci retracement zone, indicating potential upward momentum. Price action suggests a possible bounce from this level, supported by bullish indicators.
Trade Idea: Sell
Entry Price: 157.950 Stop Loss: 158.100 Take Profit 1: 157.800 Take Profit 2: 157.650
Reason for Entry:
The entry price of 157.950 is located near a strong daily resistance level, which coincides with Fibonacci extension levels. Technical indicators suggest overbought conditions, and price action signals a potential bearish reversal from this level.
Summary:
USDJPY is trading near key levels, with support around 157.319 and resistance at 157.950. The Buy Setup targets are set at 157.500 and 157.680, while the Sell Setup targets are at 157.800 and 157.650. These setups are based on daily Fibonacci retracement levels and strong support/resistance zones.
Kinda straight forward setup where it taps into the H4 OB+ , while also taking off internal liquidity and its also below 50 EMA on the H4.
The push down is unexplainable, even I do not know. However, what I do know is that while this trade should be "luck", do know that luck is when preparation meets opportunity.
Take profit done! :D
When you get violated heavily by gold, always go to usdjpy or gbpjpy XDD