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harshjapee

USDJPY terminates triangle Wave 2 @ 103.90 ?

Long
U.S. Dollar / Japanese Yen (SAXO:USDJPY)  
harshjapee  
SAXO:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Wave Analysis USDJPY Technical Analysis
1
3
trendanalysis waveanalysis usdjpy technicalanalysis
USDJPY had rallied from 103.18 through 105.65 earlier carving Wave 1 of C. The subsequent drop has been unfolding as a triangle a-b-c-d-e, which terminated potential Wave 2 around 103.90 yesterday. If correct, we might witness a sharp rally towards 107.30 and higher as Wave 3 unfolds.

Buy against 103.18, targeting 107.00 and higher
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