USDJPY: Down Trend Has Ended? But For How Long?

FX:USDJPY   U.S. Dollar / Japanese Yen
1313 3 30
WHAT A RIDE! A very nice drop from the top that I predicted to happen from 6 months ago, Is it done? Well, for now it is. For now. Now for some profit taking. We should be seeing some retracing taking place here for a good bit of time.


From here, you can see my breakdown of the subwaves of the recent consolidation price movements. Wave (A) completed and now wave (B) is almost complete. So when it is finished, we should see an impulsive wave (C) begin. There is a COMPLETED Bat which could see this wave (C) off.


So you see I marked that dramatic fall as a wave III             which I have ended around the bottom TL of a larger expanding triangle. Of which I am seeing as the leg C of that triangle. So if that is correct, then the next move is going to be the wave IV retracement. Which might've already begun. There is also a POTENTIAL Bat here which has its' completion point right around a structure zone.


Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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can i enter now ??? sir
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