This is an idea about USDJPY , 4h.
The wave iv (Shown by Orange-line) was completed.
We are on "sub-wave i" of Wave v.
probably, The sub-wave of wave i is "Diagonal".
All sub-waves of this diagonal are 3 waves.
If the assumption is correct,
The USDJPY will be above the recent high 113.956 yen and touch the support line.
and, sub-wave i will complete.
After, Sub-wave ii will be retraced to Fibonacci 38.2 or 61.8% of sub-wave i.
In this scenario, the stop loss level is 112.500.
The wave iv (Shown by Orange-line) was completed.
We are on "sub-wave i" of Wave v.
probably, The sub-wave of wave i is "Diagonal".
All sub-waves of this diagonal are 3 waves.
If the assumption is correct,
The USDJPY will be above the recent high 113.956 yen and touch the support line.
and, sub-wave i will complete.
After, Sub-wave ii will be retraced to Fibonacci 38.2 or 61.8% of sub-wave i.
In this scenario, the stop loss level is 112.500.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.