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U.S. Dollar / Japanese Yen

USDJPY 200pip

By Price-Action
Updated

112 is target 1.

This strategy uses 20EMA and fib. retrace drawn 'inverse' or backwards. From high of candle that broke the 20EMA to the most recent lowest point. Buy area is b/t .236 and .618 retrace. Targets are 1.618, 2.618, etc...
Trade closed: target reached
Target was reached. It's now deep in overbought territory. There is a good chance that the next 24 hours will be bearish. good chance to get short & catch a move to the downside
Trade closed: target reached
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