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Cohiba93

Butterfly Pattern Showing Medium-Term Long on USDJPY

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Cohiba93  
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY Fundamental Analysis technical medium-term Fibonacci elliotwaveretracement
11
0
usdjpy fundamental technical medium-term fibonacci elliotwaveretracement
S&R level and Fib retracement levels come together to support the idea of a Butterfly pattern forming on the 4hr chart. You can either wait till it hits either of the targets to sell the regression or you can ride the wave up after it breaks the 113.928 price which appears to be quite important here.

Setup 1:
Entry: Long at 113.969
TP: 115.404 or 116.168
SL: 113.558

This is just a suggestion to the predictably unpredictable market so always take caution when trading.
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