nikitafx

USD/JPY wedge cross equals H&S target (Nikita FX )

FX:USDJPY   U.S. Dollar/Japanese Yen
166 0 2
a year ago
This is a preliminary and not yet completed.....I will add more comments later



Nikita FX (http://climbingfx.jugem.jp/ )
a year ago
Comment: I would say that USD/JPY made its False breakout above 160.20--147.66 Line. That's
why rejecting downward correction wave is still going on to 147.67--124.14 Line which
should be supportive. Remember the First BOJ easing was done just above the 147.67--124.14
Line which produced an extraordinary spike.

Now we are facing Big H&S target & wedge crossing point (Both are the same level:105.84).
147.67--124.14 Line will stand at 104.18 at the time of wedge cross(Jun. 01 2016), so we still
have 166 pips downward space: (If H&S neckline replace at 115,31(2014.Nov.13 low), target is
104.76 which does'nt matter )

Therefore Major-2 of USD/JPY will be bottomed at 105.84 reasonably (before Jun. 01 2016)
and it would be climbing again at least wedge breakout target: 115.85 again.
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