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2025-04-29 04:51
IndustryDrawing Fibonacci retracement correctly in USD/JPY
#CurrencyPairPrediction
To draw Fibonacci retracement correctly in USD/JPY, first identify a clear, strong price movement — either an upward trend (for bearish retracement) or a downward trend (for bullish retracement). Select the Swing Low (lowest point) and Swing High (highest point) of that move. In an uptrend, draw the Fibonacci tool from low to high; in a downtrend, draw it from high to low.
The key retracement levels to watch are 23.6%, 38.2%, 50%, 61.8%, and 78.6%.
Since USD/JPY tends to respect major psychological levels (due to its liquidity and market behavior), always align Fibonacci levels with visible support and resistance zones.
Confirm with additional tools (trendlines, candlestick patterns, RSI divergence) before acting.
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Drawing Fibonacci retracement correctly in USD/JPY
#CurrencyPairPrediction
To draw Fibonacci retracement correctly in USD/JPY, first identify a clear, strong price movement — either an upward trend (for bearish retracement) or a downward trend (for bullish retracement). Select the Swing Low (lowest point) and Swing High (highest point) of that move. In an uptrend, draw the Fibonacci tool from low to high; in a downtrend, draw it from high to low.
The key retracement levels to watch are 23.6%, 38.2%, 50%, 61.8%, and 78.6%.
Since USD/JPY tends to respect major psychological levels (due to its liquidity and market behavior), always align Fibonacci levels with visible support and resistance zones.
Confirm with additional tools (trendlines, candlestick patterns, RSI divergence) before acting.
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