Dollar/Yen (USD/JPY) - Bullish Cycle - Primary 5
Dollar/Yen (USD/JPY) has completed Intermediate Wave X (red), as per our previously posted analysis.
Intermediate Complex WXY Structure is about to complete with Intermediate Y (red) finalizing its 5 Minor Waves (blue) Pattern.
With Intermediate Y (red) coming to an end, so will the 4th Primary Wave (purple), leaving room for a continuation of the Main Up-Trend, with Primary Wave 5 (purple) shooting for new highs.
Dollar/Yen (USD/JPY) declined in Intermediate Y (red) with an extension in Minor 3 (blue) and a Running Flat Structure in Minor 4, which leaves us to the idea that Minor 5 (blue) is preparing to end its Cycle at the 61.8% Fibonacci Extensions of Minors 3 & 4 (blue).
108.50 & 107.50 Levels carry quite a Solid Support, as they also represent 100% Fibonacci Extensions of Intermediates W & X (red), projecting the end of Intermediate Y (red).
The Levels also represent a Vibration Area and a Point of Interest for Buyers, at the 50-61.8% Fibonacci Retracements of the previous Major Up-Trend.
Moving on towards a more accurate measurement, within Minor 5 (blue), we will most likely be having what it seems to be a last small drop for Minute V (black), and for the Dollar/Yen (USD/JPY), towards the above mentioned levels.
Thus, we are looking at a very possible Trend Reversal and Continuation for the Main Up-Trend.
At the mentioned Area, a Bullish Divergence will most likely appear and confirm this Bullish Signal.
Dollar/Yen (USD/JPY) - BUY Positions:
Aggressive Entry - 108.500
SL - 107.350
Moderate Entry - 107.500
SL - 106.300
Conservative Entry - 106.500
SL - 104.700
* Safety measurements:
- when in the green, move SL in profit or at break-even
- watch for Bullish Divergence and get in on confirmation
Many pips ahead!
Intermediate Complex WXY Structure is about to complete with Intermediate Y (red) finalizing its 5 Minor Waves (blue) Pattern.
With Intermediate Y (red) coming to an end, so will the 4th Primary Wave (purple), leaving room for a continuation of the Main Up-Trend, with Primary Wave 5 (purple) shooting for new highs.
Dollar/Yen (USD/JPY) declined in Intermediate Y (red) with an extension in Minor 3 (blue) and a Running Flat Structure in Minor 4, which leaves us to the idea that Minor 5 (blue) is preparing to end its Cycle at the 61.8% Fibonacci Extensions of Minors 3 & 4 (blue).
108.50 & 107.50 Levels carry quite a Solid Support, as they also represent 100% Fibonacci Extensions of Intermediates W & X (red), projecting the end of Intermediate Y (red).
The Levels also represent a Vibration Area and a Point of Interest for Buyers, at the 50-61.8% Fibonacci Retracements of the previous Major Up-Trend.
Moving on towards a more accurate measurement, within Minor 5 (blue), we will most likely be having what it seems to be a last small drop for Minute V (black), and for the Dollar/Yen (USD/JPY), towards the above mentioned levels.
Thus, we are looking at a very possible Trend Reversal and Continuation for the Main Up-Trend.
At the mentioned Area, a Bullish Divergence will most likely appear and confirm this Bullish Signal.
Dollar/Yen (USD/JPY) - BUY Positions:
Aggressive Entry - 108.500
SL - 107.350
Moderate Entry - 107.500
SL - 106.300
Conservative Entry - 106.500
SL - 104.700
* Safety measurements:
- when in the green, move SL in profit or at break-even
- watch for Bullish Divergence and get in on confirmation
Many pips ahead!
Comment:
108.500 Levels are holding, we are interested to see if 107.500 Levels will be tested as well.
Comment:
1st Target Reached
