jakebaty
Short

USDJPY Monthly bearish engulfing candle

FX:USDJPY   U.S. Dollar/Japanese Yen
263 0 2
As can be seen in the attached Monthly chart,the USDJPY             pair has closed the month with a bearish engulfing candle pattern.

Seeing as this is on a monthly chart this could point to a long term correction down to the 96 region, with stop losses above the 105.xx highs. This provides a 2:1 win/loss ratio on this trade.

Another question for EW enthusiasts... Could this also signify the end of Wave 5?

Would be interested to hear feedback on this...
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