USD/JPY broke 200 EMA on the 1D timeframe!
USD is strong recently and It's clear on the 1D time frame (tradingview.com/x/MnqMSF6h/) that price action has broke the 200 EMA and going bullish. You can wait for confirmation for retest on the moving average before taking the trade.
Using Fibonacci I see that it's good to go long at 50% level where there's a support forming. Take profits are divided into two steps, one that is at 161.8 level and the other one the riskier is positioned at the edge of the channel that price action has formed over the last months.
This my bias on the market. Trade wisely!
Using Fibonacci I see that it's good to go long at 50% level where there's a support forming. Take profits are divided into two steps, one that is at 161.8 level and the other one the riskier is positioned at the edge of the channel that price action has formed over the last months.
This my bias on the market. Trade wisely!
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