USD/JPY rose sharply after the opening bell today. The D1 chart shows that USDJPY managed to break below support yesterday, although the current trend is still in an uptrend. Because the yen is still in a very emergency state. But for now, we can continue to be bearish and catch the pullback.
The H1 chart shows that the price formed support when it hit the Fibonacci backtest of 0.236, which caused the price to fall sharply. The current price also has a lot of opportunities for us to go short, and the Fibonacci extension line shows that the price has a lot of room to fall.
Bearish on high.
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