USDJPY Long. Retest and Bounce from Trendline . 61.8 Retracement. 1H Price closed above 6 EMA signalling bullish Momentum. Price Sold off sharply prior to test trendline then carved out new low. Potential to Reach -27% Extension Target.
@HutsonBay, I agree. I Took a short Before and Achieved 45+ Pips. I see the short Play Coming into possible fruition as well however I have Already Entered a long position. I will have to Manage my Risk and downside more closely and further Bearish action could defiantly happen. As of Now the Trendline is holding so Will I :)