USDJPY tested and reacted above ascending trendline support. A short term bounce above our 1st support at 109.318 towards 1st resistance at 109.649 could be possible. Stochastic is testing support where price bounced in the past as well.
Reason for Entry:
78.6% Fibonacci retracement, ascending trendline support
Take Profit: 109.649
Reason for Take Profit:
76.4% Fibonacci retracement
Stop Loss: 109.191
Reason for Stop Loss:
Graphical swing low support
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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