Get started
U.S. Dollar / Japanese Yen

USDJPY 1H

By MTForexBook
Updated
Pair has channeled down to a reaction zone. My preferred is we break up above a descending line, retest and head back up to the 38 Fib extension line. If we break down, look for a retest of broken support line before taking a sell position.

Wait for confirmation candles!
Note
Here's a closeup view of the descending line I'm looking for a break above. Red arrows are the closer view pattern I'm looking for.
Note
snapshot
FibonacciForexSupport and ResistanceTrend LinesUSDJPY
MTForexBook

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.