tntsunrise
Long

USDJPY Consolidation going to finish

FX:USDJPY   U.S. Dollar / Japanese Yen
4197 14 99
USDJPY             Consolidation going to finish
This is a typical consolidation pattern

Similar to last time.
So there is high chance that after USDJPY             break up
the wedge , a rally to 116 and 120 is expected.
We can use FIBO level to help us to measure the movement.
116.46 and 120.05
will be the potential upside target.
Comment: I am looking closely at the bottom edge of the WEDGE
110.95-111.00 Level
If there is a price action shows bullish, i wil long
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Brother if it breaks below wedge then no trade entry right ?
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USDJPY.....W......my fib: 1=101.039; .618=110.506; .5=113.431; 0=125.823. I say buy but still waiting one more day
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Great analysis coincides with my own.
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Yes price is below cloud but there is still a bit of leeway to go up at this point and the candle is green but ultimately we are in for a big drop from here imo.
Scroll out and look at the market over the last number of years and it looks ominous.
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Whenever Jack's analysis is against the general feeling Jack used to win most of the times.! Let's see what will be the outcome now. Anyway Jack deserve congrats for this clever analysis.
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waterman waterman
Even if the impulse is to the downside and inaction from BOJ is guaranteed the above inside bar set up supports Jack's view. I am also of the view that one shuld trade what he/she sees and not what he/she thinks.
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Nice one Jack as always. Already in this.
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Thank you for your trading ideas!
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I feel this pair is in a strong down trend aiming 105 and below'
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