One the pairs I have on my radar for spectacular movement is the USDJPY, as price fell from 111.66 which is a key Weekly resistance zone. Price is currently experiencing a buying pressure from 109.55 support level, I expect price to hit the daily 50% Fib level at 110.60, and then a possible sell pressure from there.
My overall Bias for USDJPY is bearish, considering that price has hit a Key Resistance level and has formed a bearish divergence.
In the coming weeks, I would be focusing on more sells than buys, buy trades would be mostly scalp trades. If price eventually closes above the 111.66 resistance level, then it invalidates my Bearish Bias.
Disclaimer: What I have shared above is not a financial or investment, it’s for educational purposes only, whatever trading decision you make is at your own risk.
风险提示：本文所述仅代表作者个人观点，不代表 Followme 的官方立场。Followme 不对内容的准确性、完整性或可靠性作出任何保证，对于基于该内容所采取的任何行为，不承担任何责任，除非另有书面明确说明。
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