Today, I see the opportunities to jump in USD/JPY pairs. This pairs is trading rally below 38.2 FIBOlevel and on the way to reach 50.0 FIBO level. Hence, I saw two scenarios can be occcured with this pairs
- USD/JPY rebound at FIBO 50 level and break above 38.2 FIBO level, I will go long with 23.6 FIBO level as my target
- USD/JPY breaks below FIBO 50 level, I will go short with 61.8 FIBO level as my target
Let me see your comments about this.
Happy Tuesday and trading!