NZDJPY recently completed its impulsive wave (see chart for breakdown of impulsive schematic).
We are now in the corrective phase, which is an ABC correction. We are almost at the completion of wave A. Expecting one more move lower to complete the 5th subwave of wave A. Expecting a deep pullback once the 5th subwave has finished.
Whilst we wait for wave B, we can catch the final wave down of wave A.
SHORT Trade Idea: - Watch for price to breakdown on lower timeframe - Targets: 79.5 (380pips) 76 (720pips)
But on monthly chart , jpy it's kinda losing and preparing to breakout for any urgent news .
Do you still believe jpy must show some strength?
WicktatorFX
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@Malkayed, Will be posting an updated idea for NZDJPY shortly. Still expecting NZDJPY to go higher but we're expecting the C leg of the ABC correction now. We can trade that move whilst we wait for the final buys for NZDJPY. See if you can mark up the ABC correction before i post it. DM me on TradingView once you've found it! Goodluck :)
germenez92
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We waiting last more 2 hours push
Kaccatore
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Is that possible to finish wave A early and now doing wave b what do you think ?
WicktatorFX
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@Kaccatore, You were right! Keep an eye out for the updated NZDJPY idea :)
I've got exactly the same setup