The 107 level was taken out this morning and the price action was perfect
Yesterday I highlighted that there was a lot of action building at the 107 level in USDJPY. I was looking for several scenarios and here’s what happened.
- First drop towards 107 halted in the 107.10/20 area (bang in the middle at 107.15) – tick
- 107 barrier defence and bids seen on a first test – tick
- Break and stops hit – tick
- Fib support holds and we bounce – tick
Perfect price action and a perfect low risk/high reward opportunity. Sometime’s this trading lark is too easy 😉 How did you get on?