USDJPY: Opportunity for bulls by Reece Marini

USDJPY M30

UJ30

The current 1:1 (Light blue) dip is offering an opportunity for dollar bulls to add to current long positions, as long as the market can continue to attract bids above this level look for a push higher to test the 61.8 fib at 120.000. However any break below this level will likely see a further correction take place.

  • A 1:1 refers to a current correction being equal in length to a prior correction

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