USD/JPY Possible Scenario
After an impulsive wave from 110.940 to 107.636, USD/JPY entered in an ascending correction and you know by now that I am still bearish on DXY so I think this upside move may be a correction for more downside.
I expect USD/JPY to reach the 100% Fibonacci Extension at (110.611). Not breaking the 100% Fibonacci Extension will give us an amazing sell opportunity for a great continuation to the downside to reach the bottom of the ascending channel (107.636) as our first target.
I expect USD/JPY to reach the 100% Fibonacci Extension at (110.611). Not breaking the 100% Fibonacci Extension will give us an amazing sell opportunity for a great continuation to the downside to reach the bottom of the ascending channel (107.636) as our first target.
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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.