USDJPY BULLISH IDEAUS Dollar/Japanese YenFX:USDJPYAbnerNavarro991. Overall Market Context Uptrend: Price has made a strong impulse up to 150.006 (the top of the Fibonacci retracement). Consolidation: After the peak, price is forming a small pennant/flag (blue lines), a typical continuation pattern. 2. Fibonacci Levels The swing high is 150.006 and the recent low is used to plot Fibonacci retracements. Key levels are highlighted: 0.236 ≈ 149.67 0.382 ≈ 149.40 0.5 ≈ 149.17 0.618 ≈ 149.14 0.786 ≈ 148.91 These are potential pullback zones where buyers may step in. 3. Moving Averages EMA35 (green), EMA50 (blue), and EMA200 (orange) are all sloping upward. Price is currently above them, reinforcing a bullish bias. 4. Proposed Trade Path The black arrow shows the expected price action: Short-term drop: A retracement toward the 0.618 or 0.786 Fib (around 149.15–148.91) to clear liquidity and test deeper support. Bullish reversal: From that zone, buyers are expected to push price back up, potentially breaking the pennant and retesting the 150.00 area. 5. Entry, Stop, Target Entry Zone: Around the deeper Fibonacci support (~149.1 to 148.9). Stop-loss: Below the black horizontal line under the 0.786 Fib (just under 148.8) to protect against a larger trend change. Take-profit: Top green box area, near or above the recent high (~150.0+). This gives a long setup with favorable risk-to-reward. 6. Indicators MACD histogram is neutral/slightly negative, consistent with a pullback before the next bullish momentum. Summary The trader is expecting a bullish continuation after a corrective pullback. The idea is to wait for price to retrace into the highlighted Fibonacci support zone, then enter a long position targeting a breakout of the 150.00 high while keeping risk contained below the 148.8 area.