USDJPY POC |.618 Fibonacci| Price Action| Trend
Evening Traders,
Today’s analysis – USDJPY- trading towards a key level of support where a bounce is probable,
Points to consider,
- Price Action corrective
- Local OB Support
(POC and .618 Fiboancci Confluence)
- Weekly S/R Objective
- Low Volume
USDJPY’s immediate price action is trading towards a technical trade location that has confluence with a Local OB, POC and the .618 Fibonacci, allowing for a bullish bias.
The objective is the swing high, exceeding this level will lead to a trend continuation.
The current volume profile is below average, an influx is highly imminent on the next expansion.
Overall, in my opinion, USDJPY is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis help,
Thank you for following my work
And remember,
“If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
Today’s analysis – USDJPY- trading towards a key level of support where a bounce is probable,
Points to consider,
- Price Action corrective
- Local OB Support
(POC and .618 Fiboancci Confluence)
- Weekly S/R Objective
- Low Volume
USDJPY’s immediate price action is trading towards a technical trade location that has confluence with a Local OB, POC and the .618 Fibonacci, allowing for a bullish bias.
The objective is the swing high, exceeding this level will lead to a trend continuation.
The current volume profile is below average, an influx is highly imminent on the next expansion.
Overall, in my opinion, USDJPY is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis help,
Thank you for following my work
And remember,
“If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas