USDJPY - Measure Move Down

FX:USDJPY   U.S. Dollar / Japanese Yen
FX:USDJPY Measure Move Down
  • Measure move down starting at the top of the trend (first leg). Prior pennant inside movement.
  • Corrective fase and we enter the trade as soon momentum bring movement downwards again.
  • Second leg starts after correction fase. Lenght use to be almost 80% of the first one, so we project that measure down from the end of the correction phase and establish TP2.
  • For TP1, we take 50% of the movement
  • SL 50 pips above entry point, above a 4h doji .
  • MA and EMA's confirm the downtrend.
  • Primary trend is downtrend also. We trade with the mayor trend
Trade closed: stop reached
Comment: Should have seen there was a prior support (pivot point) @107.122