USDJPY correction before another impulse?

Price has break through support at 112.05 very aggressively with a HUGE bearish momentum candle. The main reason for this was due to China voicing out that they are considering on slowing or halting purchase of U.S. Treasuries. This caused a sharp drop in the Greenback. Although I believe Dollar will still rise, Yen appears to be too strong for Dollar (currently) for this pair to head back up. I'll expect a correction based on H1 timeframe and will enter if an opportunity arises. My TP target would be the next swing low at 110.84

Trade fermée manuellement:

Price has almost hit target. You can book all profits.

Commentaire:

If you held, congrats! From a later position (after the corrective structure), you should be able to book 100 pips profit safely.