An overbought market to the next fib level, the story of USDJPY

Jun 24, 2015

I don't usually hold a trade in forex longer than a couple days, sometimes even just a few hours. This trade will be no different. USDJPY teetering on the .382 fibonacci level for this shock-wave on the 4h. I do expect it to gain it's confidence at the .236 fib zone and a creep up to break the wedge upwards. Will be watching this one close.