After that incredible rally last week which we discussed in this idea:
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)
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Pair hit the 50% Fib
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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
www.theguardian.com/...-surges-nikkei-falls
Also if anyone is wondering why the Yen strengthened on the news this is an article about the 2011 earthquake
www.theguardian.com/...-surges-nikkei-falls
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Testing the 50% Fib again
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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
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Broke above on very good durable goods data. Now triggering stops
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Area held for two days. Waiting for some structure before next idea