Hope everyone can see this chart OK - 4HR USD/JPY
I'll keep it short and sweet to start!
I could be way off here...
MY OPPINION:
1.
Possible bump-up (key resistance is 91.00) at market open to the 38.2 FIB line. (91.75 area)
2.
If FIB line 38.2 is not broken
I'm expecting reversal, and return to, then through FIB line 50.0 (90.85 area) and continue to support line. (FIB line 68.1, 90.00 area, may act as a temporary support before breaking thru).
3. If support line is broken then
I expect a continued drop to FIB line 100.0 and a continuation of current overall trend = DOWN
Just my opinions!!!
Questions, comments & smart remarks welcome!