Niverto

Supply zone trade with Fibonacci confluence

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
171 views
3
Potential area to watch for a short opportunity.
Price has reacted strongly to the above Daily supply demand (red box) and is actively pointed its move to the next Daily demand area (below in red).
On the lower timeframe (H1) I have an opportunity to enter on a supply zone and targeting the Daily demand area with a nice 3:1 Risk/Reward.

Also note the confluence with the 78.6 Fib retracement confluence

Keep it simple and happy trading

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