USDJPY H4

Price is approaching the previous resistance zone, looking left has also acted as a clear & strong area of support & resistance in the past providing good opportunities. I am watching this key zone which aligns with the 38.2 fibonacci retracement of the previous impulsive move. From this key region, I am watching for price to resume the overall downtrend for a new potential lower low in the weeks ahead.

Nota

Scenario 2 on lower timeframe: Only after powerful breakout will be looking for pullback to create new structure & move higher. But my initial bias still remains bearish. We must wait to see how price reacts from the major region

Nota

First target for 100 pips. Price rejecting support here, could move higher above this region

Trade chiuso: obiettivo raggiunto

Profound_Ambition

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Profound_Ambition