USDJPY - 50% Fib Rejection, 1:10 RR!

USDJPY - 50% Fib Rejection, 1:10 RR! After monitoring price action on this pair and conducting top down, multi timeframe analysis, I have noticed that price has rejected the key 50% Fibonacci Retracement several times and I believe that a strong push to the upside is due. With this being said, I have entered a long position with a great R:R of 1:10. I will consider taking partial profits when/if price reaches the -0.27% extension/107.000 key level.

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-20 Pips