TipTVFinance

USD/JPY - Gartley Scenario

FX_IDC:USDJPY   US DOLLAR / YEN
The USD/JPY             pair recovered sharply from the low of 98.96 levels on Friday. The spot jumped to 102.48 in Asia on threat of BOJ easing, before trimming gains to trade around 102.00 in Europe.

On the hourly chart, we can plot a Bearish gartley pattern. Here we have two scenarios... Leg BC             is anywhere between 38.2% to 88.6%.

The 88.6% level comes around 99.45. If the spot takes out today's low of 101.457, we could see it drop towards 0.886. Note that a rebound could happen from within the range of 101.457-99.45.

On the other hand, if the spot moves above 103.26 today, we could consider today's low of 101.457 as the point C of the Gartley .

In either cases, we could be moving higher to point D which in either cases rests just above 105.00 levels.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out