Usdjpyshorts
usdjpy 800 pips bearish move coming analysis was shared fewv days ago
200 pips profit so far
expecting more breakeven your trade and lets earn some money for you
#USDJPY reacting below pviot, potential for a drop!Price is reacting below pivot level at 111.705, in-line with 161.8% Fibonacci retracement, 127.2% Fibonacci extension and and swing high resistance. Price could potentially drop to support at 111.090, in-line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA. Stochastic is also at resistance level where previous drops occurred.
Alternatively, price may swing towards our resistance at 112.100, in-line with -61.8% Fibonacci retracement and 127.2% Fibonacci extension
Pivot:
111.705
Why we like it:
161.8% Fibonacci retracement, 127.2% Fibonacci extension and swing high resistance
1st Support:
111.090
23.6% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA
1st Resistance:
112.100
-61.8% Fibonacci retracement and 127.2% Fibonacci extension
Trading FX & CFDs carries high risk.
USDJPY SELL OPPORTUNITYWith the previous candle being a bearish engulfing this is a strong indication as to the price movements which will be observed in the coming week. The market has broken a major support area which we will now be acting as resistance. With no interference being seen on the left side price will steadily be making the move towards the downside. A good Entry opportunity would be around the minor support area with TP being set at the next major support zone. .
