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UPDATE #1: QUICK ANALYSIS: USDJPY: Looking For Wave 3?

FX:USDJPY   U.S. Dollar/Japanese Yen
So after some hysteria from some news, this pair has now dropped down and completed that Cypher I had posted about earlier (see Related Ideas: "QUICK ANALYSIS: USDJPY: Seeking Some Sanity! Looking For Wave 3?").

**NOTE** Depending on your broker's platform, you may or may not see it as being completed. I usually allow a +/- 5 pips to allow for variance. On my broker platform, it shows as completed.

It has now jumped up from that cypher completion and is now seemingly headed up in what I would label as the beginning of a possible wave 3 movement.

MY TRADE PLAN
I am already in LONG on this pair from 120.460 as prices broke down, completed the cypher and then immediately broke back up above the MA JOR SR Structure I have marked on the chart. This constitutes bullish PA and triggered my BUY order.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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