USDJPY - Jump On This Impulse! 🔥

In our last USDJPY analysis, we were waiting to SHORT from the very top where the ascending channel and parallel channel converged. We had a really nice bearish reversal there.

On the higher timeframe, we are at the start of the move and got a lot of room to move down. See below:


We are currently seeing a nice bear flag retracement. Anticipating a 61.8 fibonacci rejection and then move down for the next impulse.

Trade Idea:
- Watch for price to retrace back up to the 61.8 fibonacci
- Wait for bearish rejection and enter with stops above that level
First Target: 112.5 (180pips)
Second Target: 111.6 (260pips)
Third Target: 109.5 (500pips)
Swing Target: 105 (900pips)

Do you agree?

Previous USDJPY analysis: