USD/JPY, some correction is needed. Bulls, take some rest

11 באוק׳ 2021

The price has been growing non-stop. As the textbook states, after a huge bullish move, a correctional move is needed. Therefore, we are gonna be monitoring the lower timeframes and waiting for the price to form a nice top, before opening short positions on the pair and aiming for the previously broken area of resistance which has turned support, which perfectly aligns with 0.618 Fibonacci retracement level