USDJPY Short From Daily Bearish Orderblock, 107.00 Resistance
There is a clear bearish order block located around the 107.20 level. Watch closely how agressively price dropped form that particular order acumulation last week. Also, a retest of the 107.00 level was imminent and issued further weakness. USDJPY has turned bearish since the 9 & 18 EMAS crossed over on the daily time frame. Also, a retracement to the 79% Fibonacci level was a clear confluence of levels. Entry @ 107.20. Stops @ 107.50. First TP @105.85
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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.