USDJPY, H2
On the H2, USDJPY reached the historic 160,000 mark after a rapid rise and fell back down to the trendline. Despite the high volatility, the price is near the critical resistance level of 461.8 Fibonacci.
- A break above the resistance at 156.000 may resume the price growth with the nearest target at 157.100;
- However, in case of a trend line breakdown, we can expect the beginning of a short-term reversal to the support at 154.900;
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
