USDJPY on the rise as trade war tensions 'seem' to be improving
On a Daily TF we see the price has stalled at the local 61.8% Fibo around 107.345 which is at the same level as the bottom of the Ichimoku Cloud.
On a 4HTF the pair is showing a slight retracement. We have to keep our eye out on news Headlines about the trade war if we want to trade pairs with the USD.
As a result:
If the price breaks this 61.8% Fibo level up, our next target will be in the area of resistance around 107.868. After that 108.275.
Targets down are at 106.882 (50% Fibo) following that 106.307 (38.2% FIbo)
On a 4HTF the pair is showing a slight retracement. We have to keep our eye out on news Headlines about the trade war if we want to trade pairs with the USD.
As a result:
If the price breaks this 61.8% Fibo level up, our next target will be in the area of resistance around 107.868. After that 108.275.
Targets down are at 106.882 (50% Fibo) following that 106.307 (38.2% FIbo)