#CurrencyPairPrediction Crafting a USD/JPY Trading Plan Using Fibonacci Retracement A USD/JPY trading plan based on Fibonacci retracement involves identifying key price levels where the pair might reverse or consolidate. Traders begin by identifying a significant high and low on the chart, then apply Fibonacci retracement levels (typically 23.6%, 38.2%, 50%, 61.8%, and 78.6%) to forecast potential support and resistance zones. The plan includes: Entry Points: Buying near retracement support in an uptrend or selling near resistance in a downtrend. Confirmation Tools: Use candlestick patterns or indicators like RSI/MACD to confirm signals. Stop-Loss Placement: Just beyond the next Fibonacci level or recent swing point. Take-Profit Targets: Near the next Fibonacci level or previous highs/lows. This method helps traders make structured, disciplined decisions based on historical price behavior.