[9/12] Long USD/JPY with Weekly support
- 1/ USD/JPY was supported at 118.700 on Jan 4, which was the previous support and weekly uptrend's support.
- 2/ Since it couldn't break the previous Low of 118.700 in 1-hour chart so far, and just made a little higher low which is not very significant through, it's still more likely to get back to 61.8% of Fibonacci Retracement.
- 3/ Long at 119.135, SP: 120.214 (61.8%), SL: 115.570
Risk/Reward ratio:1.92 - 4/ Be aware of the risk is that the price is now under the MA Lines, and the USA employment data is coming on Friday.
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.