This idea is for educational purposes only
USD/JPY 0.23% is in a bear market; the pair experienced retracement and rejection around the 38.2% fib level. Expect price to continue toward 109.000 area. The 50 MA (red) is also trending downward. Expectation is that price will pull back to the 8 EMA (black)
Note
We see price is bouncing off of a trendline; the market is still bearish. We could see a bounce and retracement before price continues it's bearish path.
Trade closed: target reached
Target Profit Reached!
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.
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.