Hello traders, it appears USD/JPY is now forming a bullish deep crab pattern on the 30m chart. This is an excellent opportunity with a potential 150+ pip return!
The measurements for a valid deep crab are detailed below. B: 0.886 C: 0.382 - 0.886 D: 2.24 - 3.618 X to D: 1.618
I'll be expecting price to stall out once it reaches the D point, this forms on a key level of support!
Keep this setup on your watch list going into a new week.
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Price re-tested resistance at B followed by a drop in price, expecting the D leg to complete over the next 48 hours.
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We're currently 80 pips off the PRZ, paying close attention to this pair.