Today we take a look at USDJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bullish pressure as it holds above moving average and ascending trendline supports. We could see a bounce at Buy Entry, in line with 23.6% and 50% Fibonacci retracements, as well as ascending trendline support, and a further rise towards Take Profit levels, in line with -27.2%, -61.8% Fibonacci retracement levels and horizontal swing high resistance.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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