USDJPY: Three Take-Profit prices on running Short!

Previous update on analysis quoted reason for executed Short 116.183 Entry. Though 4Hr timeframe slightly differs, Daily has Three price-action prices for Take-profits on running Short.
ie 114.442 | 114.242 | 113.991

Reasons:

112.645 | 114.242 zone is previous Support/Resistance zone likely to see Retest.
114.442 and 113.991 respectively, are 0.5% and 0.618 following Fibonacci Swing Lo-Hi retest zone.

The quoted Three prices, if examined, could give reason to reverse the trade for upside breach at 116.183 for 117.254 | 118.713 zoned targets.

Conservatively, further decline could see tests at zones:

112.873 | 112.440
112.259 | 111.505 &
111.826 | 110.684

Note: Idea is to complement your research.

Check comments section for future updates on idea.

Like this idea? Like, Share, Comment, Follow, (...)

Thank you. Happy Trading.

Giao dịch được đóng thủ công