Usd/Jpy potential buying opportunity

2021년 1월 20일

Under my trading plan and analysis, Usd/Jpy recently broke last lower high, creating a new higher high structure, the price is now retracing to a strong fibonacci support level. I want to wait and see how this pair will react to the 0.618 level, (right around 103.77). This level is also a respected zone if you go back in history. Depending on how it responds, I will look for a buy trade. The key here is to be patient, let's see what happens, I could be wrong and the market keeps dropping, we have to be ready for anything. I hope you like this idea, let me know what you think is coming for Usd/Jpy. Good Luck!