USDJPY, Over-Extended Bullish Move
Updated
This pair seem to be on a tear. However we could see some near term top forming near 111 levels, as the move appear to be exhausting. (Wave 5 of 5 of 5) Some consolidation would be good.
Looking for a first move back to the 38.2% entracement level near 108.5 area.
Looking for a first move back to the 38.2% entracement level near 108.5 area.
Note
It actually further sub-divided another 5 wave in the 5 of 5 of 5 wave at a shorter time frame. #JustRetracePlsNote
Could be a potential sign of reversal.
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