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merakshi

USDJPY might offer a good risk reward ratio

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
merakshi  
FX:USDJPY   U.S. Dollar / Japanese Yen
Fibonacci Elliott Wave USDJPY elliotwaveanalysis Forex
6
1
fibonacci elliottwaves usdjpy elliotwaveanalysis forex
Dear all,

I see an Ending Diagonal Triangle (1st bearish sign) with a sharpe decline in Wave 1. The retracement was an Extended Flat pattern (2nd bearish sign).
I think that wave (i) already unfolded and is currently being retraced up to the 61,8% retracement level. This could be a good entry for a short trade.
If so, will lead to a nice risk reward ratio.

Merakshi
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