Possible AB=CD pattern forming.
C point retracement at just over .618
RSI(14) divergence
Main targets at 1.618 and 2.618 extension to form D point.
Could do and should do :)
C point retracement at just over .618
RSI(14) divergence
Main targets at 1.618 and 2.618 extension to form D point.
Could do and should do :)
Comment:
After a study of the weekly chart I have also found a bearish AB=CD has just completed starting from (A)Jun 2016 (B)Dec 2016 (C)Re .618)April 2017 (D) Ex 1.618) Nov/Dec 2017 and looking further back this pair has been bearish from every December except for 2012 but from memory I think that year the iPhone5 was released? so it was a big year for the tech industry and the JPY would have suffered from the Nikkei being bullish. So things are looking even more promising :)
Trade active:
Have the marker I was waiting for, retraced to the 707 so main target is now the 141 extension @ 131.39
Trade closed manually:
Trade closed for other reasons.... going fishing :)