On August 1st, USDJPY experienced a massive 304-pip drop after a strong impulse into the daily order block. From there, the daily order block was respected, and the retracement was induced by the USD Non-Farm Payrolls news release, leading to a sharp move down to a four-hour liquidity void, hitting the 75% Fibonacci retracement level.
This move highlights the precision of combining institutional levels with news catalysts, capturing a significant move in a short timeframe.
This is Outlier Trading Folks.
This move highlights the precision of combining institutional levels with news catalysts, capturing a significant move in a short timeframe.
This is Outlier Trading Folks.
RX
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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.