VladimirRibakov
Short

USDJPY Double Scenario

FX:USDJPY   U.S. Dollar / Japanese Yen
D1 - Price broke at the bottom of the range. Bullish divergence formed, looks like special cycle is completing itself. We may now look for a retrace to happen until price reaches the 38.2% to 50% retrace zone.

If we get the retrace in the form of double wave correction, we can then start looking for sells with the breakout of the most recent uptrend line.

Until then we can look for short term buys aiming 38.2% to 50% retrace zone.

H1 - Horizontal false break, alternative trend line false break, bullish divergence . If you want to be aggressive then you can go long once we get a valid breakout of the downtrend line.

If you want to be conservative then wait for the price to break above the high at 107.90 and then wait for a correction to happen. Once the correction completes itself, we can start looking for buys.
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