2017 Week #1 - USDJPY One More Upside towards 119.70
Price has been rallying strongly since November 2016, and entered the 0.618 - 0.786 fibonacci retracement area of the previous down move. As long as price remains below 125.75, we expect one more move down towards 91.35.
4-hour is showing a 5-wave correction (larger C wave). Expecting one more move down to complete the 5-wave structure around 115.80 - 115.95 area before a larger move to the upside.
Trade plan: look for buy opportunities targeting 119.70.
4-hour is showing a 5-wave correction (larger C wave). Expecting one more move down to complete the 5-wave structure around 115.80 - 115.95 area before a larger move to the upside.
Trade plan: look for buy opportunities targeting 119.70.
Comment:
Price didn't really move according to the expectation, but overall still in the right direction. If you have longed it, can continue holding your position, targeting 119.70.
Comment:
