USDJPY Support n Resistance 071019 Long Term (The time is near)
*Note that this is the monthly time frame.
Price is forming a Bullish wedge and in conjunction with Elliot wave's 4th phase. Prices have rejected the Fib78 region several times. This would be a good time for a longer term investment trade. Even a failed EW's 5th wave will see us get till at least near previous highs at 124.00 (TP1). A full wave play may get us to 132.8 in confluence with other fibs and resistances.
Lower time frame: Will only be looking longs on any retrace until trade plan is negated if strong Bearish signs show up at 104.00 region.
Plan is totally negated if price closes below 100.5.
Price is forming a Bullish wedge and in conjunction with Elliot wave's 4th phase. Prices have rejected the Fib78 region several times. This would be a good time for a longer term investment trade. Even a failed EW's 5th wave will see us get till at least near previous highs at 124.00 (TP1). A full wave play may get us to 132.8 in confluence with other fibs and resistances.
Lower time frame: Will only be looking longs on any retrace until trade plan is negated if strong Bearish signs show up at 104.00 region.
Plan is totally negated if price closes below 100.5.
