USDJPY Trading at a short-term resistance
This is a Daily chart for
USDJPY
Price bounced down strongly when tested the trend line and also the 61.80% around 113.20 and went to test the 38.20% around 110.00 price now trading at a short-term resistance.
Scenarios :
1/ Price will keep trading above the EMA and then will break the near-term resistance, next target will be the 61.80% ( weekly resistance )
2/ Price will break down the EMA and will test the 38.20% if it will break it, next target will be the weekly support, but this will take some time.
Updates will be available later.
This is not a signal, it's just my opinion, Good luck
USDJPY
Price bounced down strongly when tested the trend line and also the 61.80% around 113.20 and went to test the 38.20% around 110.00 price now trading at a short-term resistance.
Scenarios :
1/ Price will keep trading above the EMA and then will break the near-term resistance, next target will be the 61.80% ( weekly resistance )
2/ Price will break down the EMA and will test the 38.20% if it will break it, next target will be the weekly support, but this will take some time.
Updates will be available later.
This is not a signal, it's just my opinion, Good luck
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