USD/JPY Fibonacci Expansion Levels & More

[ForexTrader]

Future support/resistance levels based off of Fibonnaci Expansion levels in USD/JPY and plus harmonic patterns and moving averages thrown in.

Primary move, 109.73 to 108.42, retraction move 108.42 to 109.00. Fibonacci expansion levels 0.618=108.19, 1.00=107.69, 1.618=106.88. Coverage to the 100sma on the daily at the 1.00 Fibo expansion level is my target. I sold at 108.77, which was a harmonic 5.0 level that got overblown at the NFP news release. The price finished below the 5.0 level so my trade is basically worry free cause my stop loss in profit barely. The reward will be nice if my target hits, the only risk I assumed is slippage on a gap up to start Monday. If you want other levels for different pairs, fill free to ask.

[ForexTrader]

Future support/resistance levels based off of Fibonnaci Expansion levels in USD/JPY and plus harmonic patterns and moving averages thrown in.

Primary move, 109.73 to 108.42, retraction move 108.42 to 109.00. Fibonacci expansion levels 0.618=108.19, 1.00=107.69, 1.618=106.88. Coverage to the 100sma on the daily at the 1.00 Fibo expansion level is my target. I sold at 108.77, which was a harmonic 5.0 level that got overblown at the NFP news release. The price finished below the 5.0 level so my trade is basically worry free cause my stop loss in profit barely. The reward will be nice if my target hits, the only risk I assumed is slippage on a gap up to start Monday. If you want other levels for different pairs, fill free to ask.

I tp my trade at .51, I dont think the markets are going to move much until the Brexit Vote. Im out of all positions until after the Brexit. Retail has a good chance of being robbed blind that day, but there will be opportunity after the smoke clears.

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