From the highs of 104.15 - we saw the fall till lows@103.53 -Now this could be A-wave & we can have B-wave going close or slightly above 104.15 to trap, but likely below 103.53 it continues & will go & test 103.35 below that level - it should test -102.70-102.75.
The zone of 102.70-102.75 can be strong zone for buying if that zone holds also note if 102.70-102.75 fails to sustain then there could heavy selling in USDJPY.
Happy Trading & Be careful in taking risk after all trading in financial markets is risky.
Regards, Abhishek H. Singh, CMT
Trade active
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19:20 Hrs 7th Oct2016
Done 150 pips in all. Position closed between 102.85-102.90
Comments
rigen
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Hope u r right
WaveTalks
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Closing the position at 102.85-102.90 likely their is a support