USDJPY – Moving lower in an AB=CD formation

USDJPY
USDJPY
USDJPY
USDJPY

USDJPY - Intraday - We look to Sell at 108.00 (stop at 108.30)

Posted Mixed Daily results for the last 3 days. Selling posted in Asia. Previous support level of 107.81 broken. The AB=CD formation target is located at 107.20. We have a 78.6% Fibonacci pullback level of 107.24 from 106.77 to 108.99. There is scope for mild buying at the open but gains should be limited.

Our profit targets will be 107.25 and 107.00

Resistance: 108.00 / 108.10 / 108.92
Support: 107.62 / 107.25 / 106.77

Trade closed: target reached:

USDJPY - The move to 108.00 triggered our short trade In the interest of money management, we look to move the stop to 107.90. No profit has been taken Prices have continued the move lower and have reached our 1st target at 107.25