FX:USDJPY U.S. Dollar/Japanese Yen
Here we have previous support meeting the 0.382 FIB level. I will wait for candle stick confirmation via possibly a doji or an engulfing.
This Area is a critical area for the $yen. this pair may have run out of breath to the upside. But there is strong indication that this is just a retracement before a last 5th wave of the grand cycle to the 127-129 mark a possible extension to the 1.3500 teritorry. , and then we should see a strong move to the down side breaking all previous lows within the next couple of years... in the short term, this is a good set up Kamal.
Thank you for your feed back, sorry about the late reply I have been out of the country, as you can see price just about touched my stop loss, luckily though, on my live account I set my stop loss a few pips higher and price hit my target. Also, I agree with your long term point of view.