Pending Long USD/JPY in 102.7X Region
Wait for price to pullback to 102.7X region for a possible long (38.2% fib level + trend line test).
Target 1: 103.7/9X region
Target 2: 105.4X region
Contingency Plan: If 102.7X region doesn't hold, then the next region to watch is 102.1X (61.8% fib level). Considering the gap between the two regions is 60 pips, you'll want to set a tight stop below 102.7X region then try again lower.
I opened a new forex account to track the performance for my analysis here on trading view, you can see my entries on USD/JPY here: www.myfxbook.com/mem...eklyanalysis/864999.
Target 1: 103.7/9X region
Target 2: 105.4X region
Contingency Plan: If 102.7X region doesn't hold, then the next region to watch is 102.1X (61.8% fib level). Considering the gap between the two regions is 60 pips, you'll want to set a tight stop below 102.7X region then try again lower.
I opened a new forex account to track the performance for my analysis here on trading view, you can see my entries on USD/JPY here: www.myfxbook.com/mem...eklyanalysis/864999.