$JXY
The Japanese Yen Index broke out of a bearish pennant pattern, - to the upside.
The 61.8% does look like a sell area, only IF
JPX act accordingly.
My max lock profit target for this move is at the 50% fib retracement.
One pip lower than the support of the actual Triangle puts me at a complete bearish sentiment. I’d be concervative enough to stay out of a bullish sentiment even if its falls below the dip of wave 5 within the pattern.
Stay alert!
The 61.8% does look like a sell area, only IF
JPX act accordingly. My max lock profit target for this move is at the 50% fib retracement.
One pip lower than the support of the actual Triangle puts me at a complete bearish sentiment. I’d be concervative enough to stay out of a bullish sentiment even if its falls below the dip of wave 5 within the pattern.
Stay alert!
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