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Trade Idea Update: USD/JPY - Buy at 122.50

Discussion in 'Forex Trading Signals & Forecasts' started by Lily, Nov 12, 2015.

  1. Lily

    Lily Forum Member

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    The greenback met resistance at 123.21 yesterday and retreated, retaining our view that further consolidation would be seen and near term downside risk remains for another corrective fall to 122.70, however, reckon 122.50 (50% Fibonacci retracement of 121.39-123.61) would limit downside, bring another upmove later, above said resistance at 123.21 would bring retest of 123.61[​IMG]

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