USDJPY after a big bull rally sees to be looking faded. it has been trading in bullish channel. also it has retraced to 110% fibo level and also a strong resistance is seen at 111.03. traders may go short in USDJPY at slighly higher price or wait for breakout channel downward with a target of 107.79 in near term.
this script have bullish walf wave setup...so yellow line is our entry and green line is our trg and red line is sl ...risk is over there but think before trade study perpose view....
Currently D leg is in the making. One can short only after confirming the valid end of the D leg of the harmonic pattern (perhaps Bearish Butterfly). Current down move can get halt near 102.5 zone and need to check if it move towards upside.
If Bearish butterfly is in the making it will surpass 107 level.
Trading@103.58
Getting it right at the top@104.15- It's a feeling of nirvana-vow. As per previous update mentioned below-I suggested in trading strategy that UJ can look for a similar high or new high post it formed a high@104.15. Only thing which has not turned in favour was -I expected this with NFP Data- well that much leeway should be allowed.
Already -1st...
