Broke First daily resistance Hit my TP and has continued to be Bullish it is in my opinion going to hit the next fib level. I keep my trade running till it hits the weekly trendline. It also goes against an another trendline i have made. I plotted my fib levels and its because im new to using this analysis technique and the fibs should be from swing low to swing ...
It is going along the trendline and has not been broken it is close to breaking resistance box and once that happens it will be more than likely to continue to be bullish if it hit the resistance box and retraces I will be entering a short position.
This pair will go short overtime as it has reached the resistance level then retraced back down. If it breaks its resistance box it is likely that it will continue to melt. There are many entry points for this trade.
Im not entirely sure about this trade, I haven't used the Fib retractments this is merely for practical reason and to backtest some new strategies. I was to place a trade on this my guess would be that it would be a Long position because of the fact that it follows a trendline. This graph is merely for education purposes.
I believe USDJPY Will go short over time because of the fact downfall trendline. Fib is also showing my TP which is going to be the 0.618 mark. I am confident that this trade will go short overtime and that it is a long term trade. If it breaks resistance then i believe it will continue to be bullish.