LewisGlasgow
Long

USD/JPY - Bullish 5-0

FX:USDJPY   U.S. Dollar / Japanese Yen
Wow this is huge, today we have USD/JPY             on a 4 hour chart with yet another bullish 5-0 . Yesterday I posted my analysis on CHF/JPY             with the exact same pattern... Here is my analysis below:



The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50

As mentioned in yesterdays analysis the 5-0 pattern holds a much better structure on the Daily chart but we shall see how the two scenarios play out. Just make sure to keep these two patterns on your watch list!
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Very nicely done. This should make for outstanding positioning in the continuation up. Great observation!
+1 Reply
Exactly as I thought, thank you for commenting!
Reply
Nice catch there! :)
+1 Reply
Thank you!
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