POTENIAL USDJPY SELL

USDJPY


Preference:
We have reached a critical level on the Daily. If the bears begin to lose momentum, we should consider a few support levels. The 50, and the 61.8 on the Fib are micro-structural levels, and there is a good chance of a retest. Monitor price action at this level to see if the bull run will continue, or if the bears will take over.

Alternative Scenario:
In the event that the asset's upward trend persists, it would be prudent to exercise patience and wait for a break and retest before contemplating any purchase decisions. By doing so, we can ensure that we are entering the market at an opportune time, thereby maximizing our chances of success.