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.

Note

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

Note

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

Trade fermée: cible de profit atteinte

Profound_Ambition

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Profound_Ambition