USDJPY H4 | Potential reversal from 78.6%?

2023년 3월 24일

On the H4 chart, the current price is at our buy entry of 130.30, which coincides with an overlap support and 78.6% Fibonacci retracement level. If the price reverses from here, it could potentially move up to the take profit level at 133.44, which is also an overlap resistance level. To limit potential losses, we have set the stop loss at 128.12, a swing low support level.

However, it's important to note that there is a descending trendline that the price must break above in order to reach the take profit level.


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