phi35

Down to 98.900

Short
phi35 Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
It looks like we are in the fifth way down to a price level below 100.
I have calculated 2 confluence zones where the second one near 98.900 is my favorite.

Target 1: 99.200
Target 2: 98.900

Feel free to check my other ideas, too.
Trade active:
We are riding wave iii and I probably will close my position at the end of it near 99.513, because the one higher degree in we are riding is wave 5 and the strong hands will get out of the pair. Therefore I won't trade wave iv - v.

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.