After that incredible rally last week which we discussed in this idea: tradingview.com/chart/USDJPY/TldDwy25-Bullish-USD-JPY-PA/, USDJPY has finally reached an area of high resistance and could see a pullback. First minor support comes in at the the previous Fib at 108.45 area and then major support from 107.60-106.95. (Green Rectangle)
註釋
Pair hit the 50% Fib註釋
Lower timeframe trendline broke on Earthquake news. Dont usually post these here but its a nice example of what to look for Also if anyone is wondering why the Yen strengthened on the news this is an article about the 2011 earthquake
theguardian.com/business/2011/mar/17/japan-crisis-yen-surges-nikkei-falls
註釋
Testing the 50% Fib again註釋
Testing the Fib for a third time. It will be very surprising if it doesn't break. As long as we don't get a close above the Red box the idea is still valid註釋
Broke above on very good durable goods data. Now triggering stops註釋
Area held for two days. Waiting for some structure before next idea
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