USDJPY- 300+ Pips Profit --I am in seventh heaven

USDJPY- Bang On……..300 Pips Profit ….I am in seventh heaven
Let me wish all of you & your near ones a happy and prosperous new year as per hindu tradition(Vikram samvath-falling 8th April 2016).

Excited! Me too…Why not if you make 300 pips in 3 days in the most volatile pair USDJPY- I feel like I am in seventh heaven which came on such a good time when I shall be celebrating New Year on 8th April 2016.
As per 4th April Update- “USDJPY- Mirror for India Nifty”---I was expecting the pair to kiss the zone 107-108 when it was trading@111.15-- What Happened…Why there was such a fall in the pair- Technically, when we entered in the trade@111.15- we were already in 2nd wave of v-wave(5th wave). What we were going to encounter was 3rd wave- Vow, I am really fortunate to find one. The pair had a fall from 111.15 to 107.68 as of 7th April 2016—that is the reason, I am in seventh heaven.

What Next

We shall look for temporary bounce in the pair if it sustains above 108.60- In that case the pair shall move in the zone 110.30—110.75 which will be 61.8% of current fall & possible resistance for USDJPY- Once that zone is reached & trader gets bearish confirmation, we shall again see downtrend in the pair –which shall be last wave & probably complete Bullish Bat pattern as well to confluence along with Elliott waves for a bigger bounce in USDJPY.

Step By Step

USDJPY going above 108.60 shall bounce in the zone 110.30—110.75- Once it hits that zone look for selling the pair on bearish confirmation for targets lower than 107.68- which shall be last wave or 5 in v of C-wave.

Trade active:

USDJPY 1ST LEG RALLY IS ALMOST DONE IN THE RANGE 108.75--108.85
SO BOOK 60--70 PIPS AND COME OUT

Trade active:

UJ --again will retrace in the zone 108.10--108.30 ...thos who have missed this small rally can go long in that zone for targets 110.30--110.75
Regards,
Abhishek

Trade active:

look the sharp fall in UJ as expected...wait for going long...at minimum it should come to 108.55

Trade active:

The bounce from 107.68 recent low is yet not given buying opportunity whoever missed so don't get carried away as it may surpass 108.98 recent high & fall later between 108.30--108.50 for joining back in the rally for targets 110.30--110.75
Regards, Trade with care