Potential short entry opportunity USD/JPY
Updated
I am looking at the area marked for a possible short entry. This area is a previous support/resistance area. Also it is on a trend line and 23% Fib. The previous fib lines all show validity as each level respected. There has been a bounce from the 61%Fib and I am looking at a possible bounce off the 23 fib.
Note
I switched to the 5 min chart and got in the trade at 101.35. I put on the parabolic Sar. I will exit this trade once the Sar is taken out on the 5 min chartNote
A great couple of trades taken here today. The best move | got was on the 2nd retest down to the 61.8 fib. I'm expecting some support here maybe, especially at the end of the da
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