USD/JPY long setup update and CLOSE PARTIAL PROFIT
top down analysis
Daily timeframe
we see price above the ema and price retesting the 107.300 level. indicating a continuation to the upside.
H4 timeframe
price retraced to 61.8% fib level and perfectly bounced at the support level 107.300 to collect liquidity.also EMA are pointing sideways indicating consolidation region but price is now above the ema indicating potential bull run
H1 timeframe
there is EMA crossover to the upside indicating a strong potential for usd/jpy to continue upside after bounce in the support zone . we also broke structure in lower timeframe indicating we shall continue upside we could potentially see price retrace all the way back to 107.900 and potentially breaking the upside
Daily timeframe
we see price above the ema and price retesting the 107.300 level. indicating a continuation to the upside.
H4 timeframe
price retraced to 61.8% fib level and perfectly bounced at the support level 107.300 to collect liquidity.also EMA are pointing sideways indicating consolidation region but price is now above the ema indicating potential bull run
H1 timeframe
there is EMA crossover to the upside indicating a strong potential for usd/jpy to continue upside after bounce in the support zone . we also broke structure in lower timeframe indicating we shall continue upside we could potentially see price retrace all the way back to 107.900 and potentially breaking the upside
