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
USDJPY 15m chart

USDJPY 15m chart

USDJPY daily chart

USDJPY daily chart

Perfect price action and a perfect low risk/high reward opportunity. Sometime’s this trading lark is too easy 😉 How did you get on?

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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