USDJPY - Capitalise On These Moves!

USDJPY is currently in a 5 wave impulse for wave A. We are now looking for Wave 4 correction. In Elliott Wave Theory, Wave 4 tends to retrace to the 38.2 fibonacci.

We expect wave 4 to start now and finish end of July at which point we'll look for a reversal for wave 5.

Trade Idea:
- Enter on lower timeframe trendline break, BOS
- Stops above highs after trendline break
- Targets: 141 (400pips), 139 (600pips)

Goodluck and as always, trade safe!

Comment:

Running +300pips

Trade closed: target reached:

Short Targets Achieved +650pips