gdf_fx
Short

USDJPY Short: deeper look on lower time frame

FX:USDJPY   U.S. Dollar/Japanese Yen
31 0 2
Lower timeframe view based on my linked 4 hour USDJPY             chart

fib and higher timeframe level used to get an entry.

50% equilibrium of the prior significant swing has been holding very well

could enter now at Market with a 45 pip stop loss roughly at the 61.8% or wait for another test of the 50% and take profit at the brexit low of 98.991 roughly

Would like to break market structure and get a daily close below the 100 level. This kind of candle formation after friday's daily inverted hammer could see some bearish continuation

Finally, we had a inside day on friday (fridays price range was within thursdays) so i will be watching the inside day high and low for a break which could add further confluence. This is risky though as InsideDay plans are prone to fakeouts but it is something to watch

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