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NikaJourney

How Much Will Bearish Harmonic Be Respected?

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
NikaJourney  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns keylevel jpy USDJPY usdjpyshort daytrading swimgtrade
3
0
trendanalysis harmonicpatterns chartpattern keylevel jpy usdjpy usdjpyshort daytrading swimgtrade
A bearish harmonic is still being completed before price does a retracement back down off weekly support/resistance area around 112.125. Looking for price to go as far down as the trendline for bounce up for continuation.

But if price breaks the trendline, it will fully respect the bearish harmonic and will possibly make its way down to the previous weekly SR area at 109.781

BULL TPS:
  • 112.938
  • 113.558
  • If bounce off the trendline below, lower TP is 111.732

BEAR TPS:
  • 111.834
  • 111.531
    If break the trendline
  • 111.055
  • 110.703
  • 110.273
  • target tp 109.781
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