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Chinese Yuan / Japanese Yen

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CNHJPY trade ideas

JPYCNH Gartley formation, enter now or wait - up to youI think that either one of the two price movements are completely viable. The blue line is the 0.786 and 1.272 confluence region, so if you want to enter based on the confluence then short this now since it has already reached this area a few days ago. Alternatively, if you would prefer to rely on the market meeting the 0.786 retracement as an entrance point, short at 0.058403. I personally will wait until the market meets the blue region again. I have extended my usual profit target due to the market trading a range in a consolidation area at the moment.
Short
by olly_price