LONG SETUP FOR USDJPY

Jan 17, 2020

he pair is favored to remain in a cycle higher in wave (1) from the 8/26/19 lows where the daily is turning up. The 4 hour right side is up from the 107.63 lows where wave 4 ended. While a pullback remains above the 109.76 lows where the hourly is turning up the pair can see the 111.00 -111.50 area in wave 5 of (1) before it corrects the cycle up from the 8/26/19 lows.