? USD/JPY Reversal at Support Fibs Challenges Resistance Zone ?
Hi traders,
The USD/JPY made a bearish bounce and retracement at the resistance line (orange) of the uptrend channel. Price however remains in the bullish channel and could be ready for a continuation.
USD/JPY
4 hour
The USD/JPY bullish trend continuation could see a move up towards the Fibonacci targets.
1 hour
The USD/JPY made a break below the support trend line (blue) which then bounced at the Fibonacci support levels of wave 4 (green). The bullish bounce could confirm the uptrend continuation if price manages to break above the resistance trend line (red).
Good trading,
Chris Svorcik
Elite CurrenSea
