Is the USD/JPY retracing back to its daily support at 108.250?
Well, it seems that the market could not pass the daily resistant price at 110.900.
I find it interesting because the daily resistance point (110.900) is just below the 38% Fib (111.012). The market touched the 38% Fib level and retraced back down.
So, what is next? Could this be a confluence point?
And price will retrace?
Good luck and I wish you all lots of pips :)
I find it interesting because the daily resistance point (110.900) is just below the 38% Fib (111.012). The market touched the 38% Fib level and retraced back down.
So, what is next? Could this be a confluence point?
And price will retrace?
Good luck and I wish you all lots of pips :)