By analyzing the 4H chart of USDJPY we can see that it has finally gone through a correction after reaching as high as 159.90! Afterwards, it retested the March 16th NWOG but failed to stay above it, and then dropped all the way to 157.51 level, hitting the Feb 9th NWOG High and then bouncing back up, and it is currently being traded at 158.70.
If USDJPY keeps itself above the 158.69, we can see it going to retest the Bearish OB at 159.10. If it goes through, we can expect it to retest the March 16th NWOG once more.
However, if it fails to keep itself above the 158.69, we can see a drop to 158.10 which is the March 9th NWOG High, going to use it as a support zone to go back up.
Finally, if it fails to go through the Bearish OB, it can drop to 158.57.
If USDJPY keeps itself above the 158.69, we can see it going to retest the Bearish OB at 159.10. If it goes through, we can expect it to retest the March 16th NWOG once more.
However, if it fails to keep itself above the 158.69, we can see a drop to 158.10 which is the March 9th NWOG High, going to use it as a support zone to go back up.
Finally, if it fails to go through the Bearish OB, it can drop to 158.57.
Trade chiuso: obiettivo raggiunto
159.10 reached. 
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Free channel: t.me/AmirAliTrading_Official
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.