LukeFagan
Short

ABCD Pattern on Daily Chart

FX:USDJPY   U.S. Dollar / Japanese Yen
Price action has recently broken previous support and put in a lower low, lower close and has now retraced back into structure (now acting as resistance) taking a fib measurement from the A leg down to the B leg we can also see price has retraced up to the 618 level!!! with the RSI indicator being over brought!!!
looking to short the C Leg taking profit target at the 105.316 also structure also an equal measured move from A to B Leg also fib extension level 1.414
what would be the structure before the ABCD pattern? is that A then X and another ABCD?
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