FX:USDJPY U.S. Dollar/Japanese Yen
USDJPY has completed a pattern in a corrective wave structure. The may be treated like a so that a long trade can be entered at the . of CD, a common target. The target for the 2618 trade coincides nicely with previous wave 4 resistance and serves as a nice TP zone. A short trade may be taken in the S/R zone to follow through with wave ((5))/III. SL for short is placed above wave I peak as any overlap will invalidate wave structure. Target is placed at 1.382((1))=((5)) and above previous fourth wave support. Long trade yields a R/R of about 3, where as the short trade provides a 4.22 R/R.