USDJPY is at the final step of three valley rising formation. Read notes to see potential trade setup.
WARNING: If it doesn't get to the first set up, be aware and focus on the second buy. A partial decline is likely to confirm a strong upward impulse move. This is also aligned with the harmonic pattern on the daily chart.
WARNING: If it doesn't get to the first set up, be aware and focus on the second buy. A partial decline is likely to confirm a strong upward impulse move. This is also aligned with the harmonic pattern on the daily chart.
Comment:
It looks like USDJPY are not making the effort to hit the lower trendline. The partial decline signals a imminent breakout about 111.260. Wait for pullback before enter to the trade. Buy limit set at 111.26 once the price rises above that level at least 10-15 pips.
Trade closed: stop reached