JesusDiaz
Long

USDJPY bounce off of gartley completion

FX:USDJPY   U.S. Dollar / Japanese Yen
102 views
1
102 3
**LT 75** This is put out a little bit late. but this definitely looks like a good opportunity on the USDJPY
well, it definitely has recognized that 101.265 level
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keen observation. you should think of something before USDJPY has the chance to get to the bullish butterfly. How much bearish momentum is USDJPY going to need to break through the current support area that has stopped price at the 102 level. Take note of how strong the bearish action was at the first test of 102. then the bulls held 102 twice more. Think, if the bears wanted price to fall below 102 how much momentum would be need to break it. And when 102 is broken do you feel that 101.265 is solid enough support area to reverse the momentum to the other side?

I will be looking out for this potential butterfly pattern. Thanks for putting me on notice.
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there is a possible bull butterfly that completes around the 101.265 area.
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