Long

Possible Reversal in Sight for USDJPY

Updated

Liquidity is all around you.

Price is coming into a strong support area. If the bottom isn't already in, then maybe it taps once more
into the downside target zone before reversing up. There are 3 immediate targets. The first has the highest chance of keeping UJ bearish. If it turns over there at Target 1 after making a new low on M15, then this idea could be scrapped.

But i like my chances for a good bounce here.

Note

If UJ doesn't find support here we may find it return back to the lows... Will have to see what it does. But Target 1 was hit.

Note

if the 6:30 high holds then i'm looking for these internal downside targets to hit

Trade closed: target reached

Target reached. Can hold for longer as i’m not seeing any signs of this not continuing for now

Elijah_Trading

Also on:

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.