USDJPY Short Trade Idea
Updated
UJ is looking quite interesting and could most likely be forming an extended correction of that rigorous impulse move in March.
It is currently within a triangle pattern with a preceding bearish impulse. I am expecting a 5 wave impulse to the downside
to complete a possible Zig zag pattern that would fulfill the Y leg of the major corrective structure.
I hope you enjoy this post, if you would like to share your perspectives on this pair, I would highly appreciate it.
Projected targets for 3rd and 5th wave:
-105.450
-105.000
-104.250
Have a blessed trading week ahead.
It is currently within a triangle pattern with a preceding bearish impulse. I am expecting a 5 wave impulse to the downside
to complete a possible Zig zag pattern that would fulfill the Y leg of the major corrective structure.
I hope you enjoy this post, if you would like to share your perspectives on this pair, I would highly appreciate it.
Projected targets for 3rd and 5th wave:
-105.450
-105.000
-104.250
Have a blessed trading week ahead.
Trade active
Lovely move to the downside and a break out of the triangle pattern.
Note
UJ retraced to break even point and allowed entries to be doubled.
Completing the suspected bearish triangle. SL moved to break even.
Trade closed: target reached
Target 1 Reached
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