LONG TERM
The USDJPY is losing pressure, the next movement seems to be a C from an A-B-C UP side pattern. This should have 5 movements, 3 up side and 2 corrections.
This movements could have almost the same wavelength, the support and resistance suggest; wave 3 and 5 will be so similar (about 250 pips) and wave 1 must be shorter (about 100 pips).
Otherwise, wave 3 can be extended and wave 5 could be as same as wavelength 1 (about 100 pips). But is too soon to take a pick. Let’s the market tell us.
NEXT HIGH Move.
The next high move should be wave 1, that could come from 112.40/50 to 113.50/60
Stop Lost suggested at 112.10
Good Trades for every one!
The USDJPY is losing pressure, the next movement seems to be a C from an A-B-C UP side pattern. This should have 5 movements, 3 up side and 2 corrections.
This movements could have almost the same wavelength, the support and resistance suggest; wave 3 and 5 will be so similar (about 250 pips) and wave 1 must be shorter (about 100 pips).
Otherwise, wave 3 can be extended and wave 5 could be as same as wavelength 1 (about 100 pips). But is too soon to take a pick. Let’s the market tell us.
NEXT HIGH Move.
The next high move should be wave 1, that could come from 112.40/50 to 113.50/60
Stop Lost suggested at 112.10
Good Trades for every one!