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USD/JPY At 78.6% Fibonacci Level After 88.6% Bullish Bounce

Discussion in 'Technical Analysis' started by Kaitlin, Sep 28, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The USD/JPY remains stuck between the resistance of the daily downtrend channel (red) and the support of the various bottoms (green) and 88.6% Fibonacci level of wave 2 (purple). A break below the bottoms invalidates the bullish reversal, whereas a break above the bearish channel confirms the potential for a[​IMG]

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