EverythingForex
Long

USDJPY - A Different Way to See What's Happening Long Term

FX:USDJPY   U.S. Dollar/Japanese Yen
If you believe that markets are fractal in nature, then here's another way to see the big picture in what could happen next in this pair. The current PA is almost a perfect fractal to one smaller degree of the previous large impulse wave and ensuing consolidation.

After the previous impulse move (A), the following corrective move resulted in a double bottom (triple bottom if you go to a smaller time scale) which then led to a move back up to challenge the high of the impulse wave.

Fast forward to the most recent impulse wave (B) and right now, we again are seeing the same thing playing out but on a smaller scale. This is the nature of fractals.

Following this logic, we should see the current double bottom hold (or even a small false break down of the current double bottom followed by prices returning to the consolidation zone) and prices will again retest the current high of the recent impulse wave.

Either way, I'm looking to stay long in this pair for yet another wave higher and this fractal to repeat itself a 3rd time before finally exhausting itself and subsequently seeing a large corrective wave down.

See my related idea on 2 possible BATs that could be setting up in this pair right now that goes along with this idea:
"USDJPY Triple Bottom and 2 Potential BATs"

USDJPY Triple Bottom and 2 Potential BATs
BIG NEWS! Want a FULL WEEK of FREE ACCESS to my member's charts & analysis? If you want it, PM me! Also, for all who PM me, you will be entered to win a FREE MONTH'S Subscription! PM me for details!
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out