USDJPY on a support area , Long with proper Risk/Reward.
as you can see price reached the last low of the chart , it acts as support area.
Also we have a very strong resistance area on top wich you can see has 3 reversal points , we have 50% Fibbonacci retracement level in this resistance area too.
RSI shows us good divergence.
I believe price tests the support one more time after the markets opening , that's a good entry point for long with a good R/R.
So our entery point is support area and we enter position after seeing candle confirmation in lower time frames.
Our target is resistance area and our stop should be little pips below the support area.
Don't forget to like and leave me any questions, comments or observations, thank you and have a profitable week.
Also we have a very strong resistance area on top wich you can see has 3 reversal points , we have 50% Fibbonacci retracement level in this resistance area too.
RSI shows us good divergence.
I believe price tests the support one more time after the markets opening , that's a good entry point for long with a good R/R.
So our entery point is support area and we enter position after seeing candle confirmation in lower time frames.
Our target is resistance area and our stop should be little pips below the support area.
Don't forget to like and leave me any questions, comments or observations, thank you and have a profitable week.
Trade closed: target reached:
Touched TP , easy 100 pips in your pocket!