USD/JPY Decision Zone at 61.8% Fibonacci Retracement Level

Listopad 12, 2018 08:32

USD/JPY

4 hour

Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 12 October 2018 at 5:30 AM GMT

The USD/JPY currency pair made a bullish bounce at the 61.8% Fibonacci retracement level. A bullish break above the resistance trend line (red) could indicate the end of a wave 4 (blue) pattern, and the start of the wave 5 (blue). A bearish break indicates a new wave pattern indicated by the 5 bearish waves (red).

1 hour

Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 12 October 2018 at 5:30 AM GMT

The USD/JPY currency pair has either completed a bearish ABC (orange), or is building a 5 wave (red) pattern, which will depend on the candlestick patterns that emerge at the support and resistance trend lines.

Weekly

Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 12 October 2018 at 5:30 AM GMT

The USD/JPY currency pair is testing a key support trend line (blue), which is a key bounce or break zone.

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.