There is a good selling opportunity on 2H
USDJPY
chart. The major key level is 112.332. The price respected that level many times and it is more likely it will do it again. There is a potential bat pattern with nice Risk reward. If the price goes closed to 88% fibonacci retracement, that would the entry point. Place stop loss above resistance level.
T1 - 38.2
T2 - 61.8
Note: Fed Funds Rate and FOMC tomorrow and do not enter into the trade during those times.
USDJPY
chart. The major key level is 112.332. The price respected that level many times and it is more likely it will do it again. There is a potential bat pattern with nice Risk reward. If the price goes closed to 88% fibonacci retracement, that would the entry point. Place stop loss above resistance level. T1 - 38.2
T2 - 61.8
Note: Fed Funds Rate and FOMC tomorrow and do not enter into the trade during those times.
Comment:
Both Target were hit.
