USD/YEN Will dips from level 120.00 till 117.00

Hi! Today i gonna try my technical is it going to right way or wrong ?
Today i choosing USD-YEN as my chart.

I found out this pair will continue the downtrend after bounced back from level 119.10-120.30.

I dont know how to explain at here ,so please refer to my chart .If im not mistaken will going down from level 120.00 till 117.00.

But will try to break below 1st support at level 118.97 then will extend till 118.50 before reach down till level 117.00

Upside will see the potential from level 120.37 till 121.00 38.2% fibo from range (122.00-119.00) .Extend will till level 122.00 .

Please give me a comment .
Thanks

I dont think so. I will not go down to 117 in near future. If the BoJ Rate is increased to .50%, then wew might expect 118. in next two days.
I the rate is unchanced , then it might float between 119 and 122.

But I am already short on USD/JPY at 120.10 . I am guessing it will go down to 119.50 by tommorow

Happy Trade.

I found out this pair will continue the downtrend after bounced back from level 119.10-120.30. Today i choosing USD-YEN as my chart.

The pair is USD/JPY not USD YEN.

Maybe consider stating that you "predict" that (in your opinion), their will be a downtrend instead of stating that it WILL be going downhill.

You don't want traders to get the impression that they need to trade on it since you state it will move in that direction. You would feel bad if traders followed your advice and it was not correct. The pair actually is continuing a long trend.

I'm actually very bullish about, even though I have lost my short position this morning ... LMAO.