Important levels to watch for USDJPY in the meantime
On July 7, UJ experienced its first-ever drop, breaking the previous Daily Low of 138.40.
Currently, the price has retraced to the 78.6% level on the Fibonacci, making this an ideal trading entry back to the 138.4 area. It is anticipated that the pair will break this level and push the Take Profit (TP) lower, matching the low of 138.40.
This is a significant trading opportunity, but it is crucial to practice proper risk management when considering this SMC transaction.
Currently, the price has retraced to the 78.6% level on the Fibonacci, making this an ideal trading entry back to the 138.4 area. It is anticipated that the pair will break this level and push the Take Profit (TP) lower, matching the low of 138.40.
This is a significant trading opportunity, but it is crucial to practice proper risk management when considering this SMC transaction.
