USDJPY: Short From Swing High Resistance

23 ก.พ.

It appears that the price has successfully breached the upper boundary of the symmetrical triangle, with the stochastic indicator signaling overbought conditions. Currently, the price is ascending towards the pivot, coinciding with both the 161.8% Fibonacci retracement and the 127.2% Fibonacci projection. Anticipating a potential rejection from this level, I foresee a downside movement towards the 1st support, which is pullback support, and also lines up with the 50% Fibonacci retracement level.