Possible Reversal in Sight for USDJPY
Liquidity is all around you.
Price is coming into a strong support area. If the bottom isn't already in, then maybe it taps once more
into the downside target zone before reversing up. There are 3 immediate targets. The first has the highest chance of keeping UJ bearish. If it turns over there at Target 1 after making a new low on M15, then this idea could be scrapped.
But i like my chances for a good bounce here.
Price is coming into a strong support area. If the bottom isn't already in, then maybe it taps once more
into the downside target zone before reversing up. There are 3 immediate targets. The first has the highest chance of keeping UJ bearish. If it turns over there at Target 1 after making a new low on M15, then this idea could be scrapped.
But i like my chances for a good bounce here.
Comment:
If UJ doesn't find support here we may find it return back to the lows... Will have to see what it does. But Target 1 was hit.
Comment:
if the 6:30 high holds then i'm looking for these internal downside targets to hit
Trade closed: target reached:
Target reached. Can hold for longer as i’m not seeing any signs of this not continuing for now
