USDJPY- Trendline should hold-UJ goes for the final push

Trading@104.06

Yesterday's high@104.63 marked the end of the black 3rd wave. Currently we are in 4th black wave which could become an a-b-c sequence again out of which a-fall is done from 104.63 highs -it is retracing back with lows@103.55 falling below 103.55 will indicate that it is c-wave of the fall or if it retraces from current highs of 104.09 but fails to take out 103.55 in that we should go long above 104.09 to the zone 104.80-105

Previous Update- How UJ travelled since 101.70's to 104.60's

Regards,
Abhishek H. Singh, CMT

Trade active:

18:45 Hrs 13th Oct2016

UJ opened as shown in the chart- 4th wave as a-b@104.10- c-wave which is currently running from 104.10 highs.

Going above 104.10 -it will leave behind 4th black wave & will start heading for 5th wave.

Trade active:

19:40 Hrs 13th Oct2016

Trading@103.40
(c) wave in 4th black wave travels 61.8% at 103.35-103.40 zone equality to (A) -wave at 102.90-102.95 zones

We were again at the top of the B - wave in 4th Black wave@104. 10