USD/JPY could resume its downward movement again at the 78.6% Retracement from previous high and at a 100-123.6% Fib-extension A-B as a corrective ABC move to the upside could very well find its end here. Please dont take this signal blindly wait for confirmation on the smaller timeframes. If confirmation comes there is a good risk reward ratio for this trade at this point in time. Warning this setups becomes invalide if we should break the last high to the upside.
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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.