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AndreM.Moldegard-Eriksen

USDJPY Triple bottom, long positions

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
AndreM.Moldegard-Eriksen  
FX:USDJPY   U.S. Dollar / Japanese Yen
usdjpylong Fibonacci Fibonacci Retracement Support and Resistance Daily Charts Weekly Charts tripplebottom triplebottom
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usdjpylong fibonacci fibonacciretracement supportandresistance daily weekly tripplebottom triplebottom
USDJPY has formed a triple bottom, hugely respecting the 111 level. We also have a fibonacci 61.8% on 110.4, so the zone 110.4-111 works as a really strong support. The price is also respecting the TL from 2013, making the current zone really strong and the pair would need a huge momentum to push the price below these levels.

The TPs are based upon fibonacci and resistance from 2001.

Entry: 112.4
SL 110.2
TP1: 116.2
TP2: 117.5
TP3: 119

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AndreM.Moldegard-Eriksen
USDJPY long, based on TL and fibonacci
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