USD/JPY Retraces but Sellers are Waiting

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The USD/JPY is moving towards 106.30 the POC confluence zone. At this point we might see a retracement but watch out for fresh sellers.

106.30-40 is the zone where we might see fresh selling. If the price moves within 106.30-70, fresh sellers could join and turn the price lower. Targets will be 104.35 followed by 103.36 and 103.30. We can see a counter trend move now, but watch for above mentioned scenario in case price starts to turn.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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