FX:USDJPY   U.S. Dollar/Japanese Yen
468 0 2
Ahead of NFP USDJPY             has managed to stay above 102.00 level and right now is consolidating around 102.30 level, which was an important resistance. Since we briefly took out 105.00 the pair has been moving side ways in a fairly large range (approx 460pips) and since there has been no decisive moves I'm starting to suspect that we might be in a contracting triangle. From EW perspective I'd say that all the moves since 105.00 have been corrective and thus triangle would fit.
If we really are in a triangle, then we need another leg higher to complete wave D which usualy is around 78.6% out of the C wave. That target is also supported by the fact that 61.8% of the current move from lows would take us to that 78.6 fib level.

Time will tell. Have a great NFP Friday.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions 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