X5
Long

USD/JPY H4 - Possible long setup - ABCD pattern

X5  
FX:USDJPY   U.S. Dollar / Japanese Yen
An ABCD pattern is in formation, a bullish divergence and bullish pin bar are present inside PRZ, so it could be a good idea to look for a long position, however the PRZ is wide (+150 pips), still there is a possibility that the price push down a little bit more.

So, my options:
1) Buy limit at 109.64 / SL = 109.29
2) Wait for a reversal bar pattern around 108.99 (127.2% of the extension) where SL will be 3 or 4 pips outside the PRZ (108.01)

I’m more into second option, but H1 chart can help to make a better decision.

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