USDJPY Fib Retracement

12 apr 2016

If price continues up at this rate it will hit the trend line at the .236 fib retrace, from there it will either break up or get smashed down again. I am already in this one long but wanted to share it. There is a level of resistance from 2014, the only support/resistance at this price action with the next one below at 105. Ultimately I could see this thing pulling off a .618 or .786 retrace, possibly more if BOJ decides to intervene at some point.

12 apr 2016

Trade attivo

The red line is Knoxville Divergence, and one that small is usually indicative for a big move!

12 apr 2016

Trade attivo

Closed at the top of the last candle for profit and opened a new position. Waiting for contact with the next fib level or a brak in the trend line.

13 apr 2016

Trade chiuso: obiettivo raggiunto

Took profit at fib retrace, waiting to see pullback or break in trend line.