USDJPY

1 Mei 2024

Many focus on the small timeframes and get stuck. I come and present the yearly timeframe which is a huge dealbreaker. Price came at a reversal in 2011 and ever since has been bullish. Here we can see price is essentially at the 161.8% retracement. We can see a heavy sell toward the 100% extension which can potentially be tested for new support. To confirm this we have multiple price action points that consolidate around that prize zone. For now I remain a bear as we just made a new higher high and we must come back to test key important areas. Let me know what you guys think.