Looking at the chart the key for me is the weekly support which has not been tested
USDJPY is currently in a range marked clearly on my chart.
The MTPC indicator marks out trading days making it easier to note that we have 2 weeks worth of stops built up under the lows of the range marked out by the red demand order block.
Anyone long from August 2nd is likely to have their stop around 100.5 or even a bit higher making this area a perfect candidate to raid and take liquidity before a bounce off or rejection near the weekly support of 100.527
My actual targets are conservatively: 102
extreme target with good Price action: 103.2
USDJPY is currently in a range marked clearly on my chart.
The MTPC indicator marks out trading days making it easier to note that we have 2 weeks worth of stops built up under the lows of the range marked out by the red demand order block.
Anyone long from August 2nd is likely to have their stop around 100.5 or even a bit higher making this area a perfect candidate to raid and take liquidity before a bounce off or rejection near the weekly support of 100.527
My actual targets are conservatively: 102
extreme target with good Price action: 103.2
