A nice pullback to the golden ratio. Daily candle close has shown a nice rejection of the 61.8 retracement (shooting star). TP is the -23 level which is also a monthly support level. SL is at the 78.6 level which is above the S/R zone. There is a market gap that hasn't been filled yet which is circled so if this happens then the SL should still be protected. Multiple confluence on other JPY pairs too. Volume also seems to be picking up.
Note
Weekly view (parallel channel):Monthly view showing support zone:
Trade active
Note
Nice candlestick pattern on 4H triggers entry:Trade closed: stop reached
-1
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.