Potential shorts on USD/JPY.
On the daily time frame we have seen significant resistance at 118.600 after multiple rejections and the bulls appear to have lost momentum. On the lower time frames we have had a 50% fib rejection which if a CTL breakout occurs i will be looking to go short.
First target set at -27% fib extension
Second target set at -61.8% fib extension which coincides with daily support.
For more trading related content head over to my instagram - link in my BIO
On the daily time frame we have seen significant resistance at 118.600 after multiple rejections and the bulls appear to have lost momentum. On the lower time frames we have had a 50% fib rejection which if a CTL breakout occurs i will be looking to go short.
First target set at -27% fib extension
Second target set at -61.8% fib extension which coincides with daily support.
For more trading related content head over to my instagram - link in my BIO