? USD/JPY Reversal at Support Fibs Challenges Resistance Zone ?

2 min read

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

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