USDJPY to catch bounce on STRONG Fib Zone: UJ long idea
Waiting for more of a drop, with zones to watch for possible entries.
All of the Grey zones are from my weekly Support and Resistance Zone calculations linked below.
The Green and Red zones are previously existing zones that have been reinforced by this last wave/ripples.
There are two possible entries (green zones) but I will be mostly interested in the 109.00 area where a 2.618 should be a nice ricochet point.
Here is my last Fib Zone mapping for UJ:
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wow, quite a spike.
Not sure what news might have caused it.
But it stop exactly at the red zone seen as resistance.
Actually, if it comes back down to green zone, and entry will be even more interesting because that red zone resistance may be little weaker now (thanks to near approach of price).
Not sure what news might have caused it.
But it stop exactly at the red zone seen as resistance.
Actually, if it comes back down to green zone, and entry will be even more interesting because that red zone resistance may be little weaker now (thanks to near approach of price).
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Looking at a fib retracement of recent wave up:
The .705 retrace is just below my second (and ideal) zone.
Will see what London Open does to this pair, and gauge the momentum then.