USDJPY may have found support. Ready for a new impulse?
USDJPY has been in correction since January, but it's now at the Fib 38% and 100EMA levels appear to be providing support. Here we could see price break higher, but we need to see the red down trend line can be broken.
There is still risk that price could head lower to the fib 50% level if support breaks, so we need to be patient.
There is still risk that price could head lower to the fib 50% level if support breaks, so we need to be patient.
Trade active:
OP: 112.38
SL: 111.88
TP: open
SL: 111.88
TP: open
Comment:
Very nearly missed this trade because I was waiting for a pullback to the trend line.
