themarketzone

AB=CD completion right on the 200 weeks MA

FX:USDJPY   U.S. Dollar / Japanese Yen
Near 105 $USDJPY             will complete a daily bullish AB=CD pattern. As you can see above, the equal distance legs reach just above 105 and the Fib confluence zone that forms the PRZ is right near 105.

Perfect PRZ for a daily AB=CD pattern right on top of the 200 weeks MA

107.5 (previous low) is the first target zone you should set if you wish to trade this potential bullish swing trading opportunity. Short term trades should probably just focus on 105 and seek for smaller time frames reversal patterns to try and catch intraday rallies from this weekly harmonic support zone .

Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters

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Comment: First reaction shows that we have buyers near 105-106. Perhaps another low will come before the next bullish move.
Nice winner last week.. looking for another entry in the coming weeks
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