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!
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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