USD/JPY Long Term Selling Trade
Good Afternoon,
Elliot wave pattern suggest that we have arrived on leg C. There are two likely scenarios to happen in the coming days.
1. Should market respect trend line, expect to see resistance at Leg D via 112.013. Followed by a bearish move down to 1.272 Fib Extension level.
2. Should market NOT respect trend line, it is highly likely that move will become Leg D. Followed by a bearish move down to 1.272 Fib Extension level.
Overall, market price is expected to decrease in the coming weeks.
Thank You,
Trade Wisley
Elliot wave pattern suggest that we have arrived on leg C. There are two likely scenarios to happen in the coming days.
1. Should market respect trend line, expect to see resistance at Leg D via 112.013. Followed by a bearish move down to 1.272 Fib Extension level.
2. Should market NOT respect trend line, it is highly likely that move will become Leg D. Followed by a bearish move down to 1.272 Fib Extension level.
Overall, market price is expected to decrease in the coming weeks.
Thank You,
Trade Wisley
Trade closed: target reached