USDJPY Short 1H

30 Mar 2020

USDJPY in a short term downtrend, bearish candlestick has tested trend line (2nd trend line touch). Pullback predicted to retrace between 50% and 61.2% levels which shows confluence with a previous lower low. Expected to hit target of 127.2% extension which shows confluence with S1 pivot. 50 pip stop loss with 155 pip target = 3:1 RRR