USD/JPY: ABCD bullish pattern
In this update, USD/JPY forming an ABCD bullish pattern, what we could to see a long position right now that could to reach in the 0.382%. I use Fibonacci for armonic to calculate my potentials target. Also, I can see a double top in that chart and we're in the possible invalidation of this broke-down of support, our main resistance will be exactly to $137.61 JPY. Also, you can to draw a bullish butterfly harmonic pattern, but I put my analysis more easily to analyze it. Because it's the same calculous to measure it.
At the moment, the price still up, but I hope to continue climp as I Hope.
Good luck in this long position!!!
Remember, I entry around $136.61 JPY, Stop Loss to $136.11 JPY (update) and take profit to $137.61 JPY and a point to watch $137.30 JPY to know if the price could to continue up, Otherwise, the position could be closed up manually so near of $137.30 JPY analyzing the candlestick
At the moment, the price still up, but I hope to continue climp as I Hope.
Good luck in this long position!!!
Remember, I entry around $136.61 JPY, Stop Loss to $136.11 JPY (update) and take profit to $137.61 JPY and a point to watch $137.30 JPY to know if the price could to continue up, Otherwise, the position could be closed up manually so near of $137.30 JPY analyzing the candlestick
Comment:
The FED interest rate was 2.50% as FED add another 0.75% of interest rate vs. the past interest rate that was in 1.75%.
U.S. Dollar was climbp up after the FED meeting about interest rate deciison that made a drop of 0.64%, But nothing, I will keep holding my long posiiton this it's only the news that move negative the candlestick, but I believe that the price action will rearrange the way that the chart should be to show up.