SLouise96

USDJPY Liquidity Grab Impending

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
I have identified a bearish OB @ 148.178 creating a significant CHoCH. Subsequently, this formed a smaller bullish impulse with a second CHoCH and a potential level of liquidity @ 147.457. Using Fib Ret in the pullback @ 0.618, this levels up with the bullish OB, further confirming this point of entry @146.694. Once price has reached my alert at 50% of the bullish 1H OB, i will look to the 5m TF in order to enter at a CHoCH once identified. I will expect price t then break the above level of liquidity and head towards the previous bearish OB for its retest. However, I have cut TP short using Fib Ret level of 0.618 which puts my under.

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