Offer USDJPY @ 113.05
Updated
Sell retracement to last lows before breakout of the 23rd.
Confluence with 50% Fib in the middle of zone and just above 61 of that move down
50EMA falls inside trade zone as well
Note the highlight range is exactly a 50% retracement of the larger swing, potentially offering a continuation now down to the 127.1 extension of that fib which confluences with 112 handle.
TP is 217.1 of this inner move in case we get a big overnight (Asian) move, re-evaluate TP based on PA if the trade fills over night, possibly reaching for 112 if USD looks weak or the low of 112.5 if not
Confluence with 50% Fib in the middle of zone and just above 61 of that move down
50EMA falls inside trade zone as well
Note the highlight range is exactly a 50% retracement of the larger swing, potentially offering a continuation now down to the 127.1 extension of that fib which confluences with 112 handle.
TP is 217.1 of this inner move in case we get a big overnight (Asian) move, re-evaluate TP based on PA if the trade fills over night, possibly reaching for 112 if USD looks weak or the low of 112.5 if not
Order cancelled
Missed our entry, market never retraced.Note the anticipation however was correct.
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