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U.S. Dollar / Japanese Yen
Long

USDJPY - Long

By flyhorse
Updated
The price is arrived on strong support area
RSI are in overbougth
COT increase of long position

Could be a potential false break out of support trend then restart of first long Leg.
Trade active
Sorry ... RSI In Oversold!! :)
Trade closed: target reached
T1 Close
Trade active
break of support ... true for short continuation or false for a long impulse? ..
Note
snapshot
Note
as usually there is a market manipulation near big support/resistence area .. could be a false break .. how many bear will be traped on it? .. we will see in the next time if is it correct or no.
Trade closed: target reached
T2 take
Note
snapshot
As aspected the price created a false break down and is started the first long leg.
I think this first leg is finisched (or almost) and probably will start a short 2 wave ... that ca be flat or rebound 0,38/0,61% of first leg.
Then, the price should restart long to create the 3Elliott wave ...
remain still valid my previusly target as in the previus analisys
Trade closed: target reached
T3 take
Trade active
snapshot
Start the impulse long for a proably final wave
Trend AnalysisWave Analysis
flyhorse

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