USD JPY a retracement ahead to 113.50
In My Opinion USDJPY just finished wave 5 of III in the down side. So we expect to start a retracement wave IV also this retracement could be at 38.2% Fibonacci level.
I don’t expect too much activity from Monday, but certainly in the next days the USDJPY will try to find the 113.50 level again to retrace the down side.
We need more information to determine a retracement pattern, but there are two most probable. ABC plane wave Pattern or Triangle.
Remember that we have to wait for a good SETUP to entry in to the markets, like a cross over between 2 Exponential movil overage (5 period and 31 period)
Have a Good for every one trades!
I don’t expect too much activity from Monday, but certainly in the next days the USDJPY will try to find the 113.50 level again to retrace the down side.
We need more information to determine a retracement pattern, but there are two most probable. ABC plane wave Pattern or Triangle.
Remember that we have to wait for a good SETUP to entry in to the markets, like a cross over between 2 Exponential movil overage (5 period and 31 period)
Have a Good for every one trades!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.