Long term view - Bullish Cypher - First Short and then Long

Long

U.S. Dollar / Japanese Yen (FX_IDC:USDJPY)

Updated

FX_IDC:USDJPY U.S. Dollar / Japanese Yen

A bullish Cypher is in the process of forming.
Expecting the price to short until leg D, which will provide long opportunity

Comment:

Move above the 50% fib level is bullish

snapshot

Comment:

Also testing resistance level

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Comment:

Place Buy order @ 112.469 (leg D)

Comment:

Stop @ 111.263

Comment:

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Comment:

Price is approaching leg D.
Placing the order for buy at leg D.
Stop loss @ 1.13 reverse fib extension from A to X.

Comment:

Stop @ 111.263
Buy order @ 112.5

Comment:

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