A triangle is almost done, and is so probablyto brake up!
I can see 2 ways to go Long in USD/JPY. 1st. It can have a retracement with a pattern A,B,C. and this pattern also will be wave 2. 2nd It just finish the wave 2 and is starting wave 3, and the 1,2,3,4,5 pattern will be a channel. I think is the first option the most probably because UP trend seems to be so strong, going to 122,00 in the long term.
Is making an ABC correction to go UP again!
It left a Little down move, but as sin as it target 112.40 it will try to find all way up to 113.80/114.00 levels. Good look for every one.
Finding that support it will start a 1,2,3,4,5 Eelliot wave pattern
Before being Long, USDJPY could have a little retracement to find support in 112.40/50. Then would try to reach a level close to 113.56. we should consider tomorrow is a holyday in USA so we don’t expect to have a big volume in the market. This short opportunity, comes because now we have a 61.8% retracement since the high at 113.45 and the low at 112.65 and we...
LONG TERM The USDJPY is losing pressure, the next movement seems to be a C from an A-B-C UP side pattern. This should have 5 movements, 3 up side and 2 corrections. This movements could have almost the same wavelength, the support and resistance suggest; wave 3 and 5 will be so similar (about 250 pips) and wave 1 must be shorter (about 100...
The USDJPY is just about to start the 3 rd wave of mettle term trend, this all trend is gonna end at 116.70/.50.3erd wave is gonna end at 115.00/.20. Targets. T1 113.95/114.00 T2 114.35 (3rd wave of 3) T3 115 (5th wave of 3)
The USDJPY is just about to start the 3rd wave of mettle term trend, this all trend is gonna end at 116.70/.50.3erd wave is gonna end at 115.00/.20. Targets. T1 113.95/114.00 T2 114.35 ( 3rd wave of III) T3 115 ( 5th wave of III ) Good trades for every one!
first fibbonacci Level at 114.00/114.20
A Pullback seems to be necessary to continuing in an uptrend and it apparently will be in a Zigzag pattern. So, I suggest the zigzag is gonna end between 113.40/20 levels, in which we have a very powerful resistance at 113.20. Then we can expect to continue Long between 116.50/117.00 Level. Good trades for every one!!
Traying to reach the resistance in 115.20 level, in the last move on 5 wave Fibonacci level. Be careful about 114.70/114.80 zone that is the 1rst target.
This seems to be the last short term Elliot wave. So hold it and buy it.