USDJPY: Three Take-Profit prices on running Short!

Previous update on analysis quoted reason for executed Short 116.183 Entry. Though 4Hr timeframe slightly differs, Daily has Three price-action prices for Take-profits on running Short.
ie 114.442 | 114.242 | 113.991

Reasons:

112.645 | 114.242 zone is previous Support/Resistance zone likely to see Retest.
114.442 and 113.991 respectively, are 0.5% and 0.618 following Fibonacci Swing Lo-Hi retest zone.

The quoted Three prices, if examined, could give reason to reverse the trade for upside breach at 116.183 for 117.254 | 118.713 zoned targets.

Conservatively, further decline could see tests at zones:

112.873 | 112.440
112.259 | 111.505 &
111.826 | 110.684

Note: Idea is to complement your research.

Check comments section for future updates on idea.

Like this idea? Like, Share, Comment, Follow, (...)

Thank you. Happy Trading.

Trade stängt manuellt