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Long

3 Possibilities For The Near Future.......

FX:USDJPY   U.S. Dollar/Japanese Yen
236 0 4
There are 3 possible harmonic patterns here: BAT, DEEP CRAB and a 1.13 Fail Wave.

BAT: I think is the most likely outcome given the 50% XA retracement to the B point. w/ a deep C point. A .786/.886 XA retracement for the D point would complete the BAT pattern and would be a good retest of the X point high

Deep Crab: 50% XA to the B; deep C point almost to the A point. would need to see a solid break of the X point to call this a Deep Crab . If this happens, I would expect prices to get to at least the 1.618 projection

1.13 Fail Wave: if prices do break the X point and reach the 1.13 only to turn back down AND close below the X point again, then this scenario looks likely. This would be a "break above/close below major structure" trade short and would expect prices to quickly fall to at least .886 projection of the XA leg.

In any case, I'm LONG now to catch the CD legs up in all 3 scenarios......

Just my own opinions....hope it helps!
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