It could be high possibility that USDJPY could be tracing out a triangle which has done its blue a-wave (internally divided as w-x-y wave) & similarly blue b-wave (internally divided as w-x-y wave) similarly blue c-wave is currently running & likely completed w-wave & x-wave-- running internally into y-wave which will complete blue c-wave
In blue c-wave-
Y-wave can achieve equality target as of W-wave which will take UJ to the zone of 104.50-104.75- post that it can start blue d-wave but blue d-wave will only start once it gets resistance in the desired zone of 104.50-104.75 & starts falling or remains under that zone.
Abhishek H. Singh, CMT
From Bottom@100. 08 - It's opening up as 1-2 Black & 1-2 Red Sequence which will complete 3rd Red at 103.40's -where it will measure 161.8% which is next in line above 101.78
The fall from 101.84 to 100.74 looks corrective so taking 100.74 as key support & rising trendline also to hold.
Any Move Above 101.77 shall take UJ to higher targets.
UJ is dividing into 1-2-1-2 sequence likely we should travel to the zone of 103.40-103.50's first. On larger degree its a triangle which is unfolding. Kindly Trade Using Your Due Diligence as well.
We have a series of 1-2 Black Then 1-2 Red Wave & Now i-ii blue wave where iii-blue wave will complete 161.8% at 102.70-102.80's
We will raise our working stop slightly below 101.67 (3-5 pips below) for higher targets.
Sorry for wrong chart from Indian Markets
We have a series of 1-2 Black Then 1-2 Red Wave & Now i-ii blue wave where iii-blue wave will complete 161.8% at 102.70-102.80's.
We will raise our working stop slightly below 101.67 (3 to 5 pips below) for higher targets
Typo Error - level mentioned in chart - 101.67 instead of 106.67
Likely Internal iii-wave looks to complete at current highs@102. 87 - I shall be looking for the corrective sequence which should get support in the zone 102-102.10 zone & complete iv-th wave of the series.
Also do your own due diligence & confirm at your end.
UJ just made sharp fall but only till 102.62 lows & bounced back - so likely we will go short only now below rising trendline & that too only for 102.00-102.10 zone as lasrger trend is upside & I am looking for 103.41 as target zone where red 3rd wave is 161.8% on 1st red wave.
iv-wave was sidewaays pattern -its heading up for target zone of 103.40-103.50
UJ turned from 103.20's -we should give that much leeway - looking down for UJ down in 4th red wave -102.60 could be first support & later if extends down then look for 102.00 -102.10 zone
Look for trendline break-then we will have 4th wave down
Neatly drawn trendline helped me to see this 5th wave up from 102.90's to 103.50's. We are now close by to complete 3rd red wave & sooner will start the 4th wave down.
UJ is all done in the zone 103.40-103.50's -got slightly extended but be careful - we are close to start a retracement in 4th wave.
At lowest degree - The fall of UJ from current email@example.com is corrective -so we will look one more push up & then fall again may be from current levels or from 103.30-103.35 zone- Push can be seen up to recent highs of 103.59 or little higher.
Yes we are close to start a fall in red- 4th wave but after one more push higher
From highs of 103.59 - price still looks corrective to me & yet one more new high shall expected but before that it will fall in the zone 103.30-103.35 & then a push up again to make a new high
or it could be a triangle but surely new high cannot be denied. Look for a push above 103.59 or push from 103.30-103.35 zone
A-B-C correction happening from top 103.59 likely looks down till 103.30-103.35 & then push up & fall again
As suggested above 103.59 -we shall look up -so it has started. Final Wave -5 measures 61.8% of 1-3 Wave in the zone 103.85-103.95 that's it for the day & later going below 103.45 -we will look to sell UJ
Alternate Count - Trail your stops at 103.50 -if taken long above 103.59 - because going below 103.50 -likely it will fall to 103.30-103.35 & then Push Up & fall later.
Good Morning to All,
As expected overnight from India point of View- Expected UJ to fall in the zone 103.30-103.35
Made a session firstname.lastname@example.org -upper edge- Likely one final push expected in the zone 103.75's & 103.80's if goes above 104 -then we can expect 104.15-104.20's but be careful-post that there will be a fall to the swing low of 103.30-103.35 & going below that look for 102.70-102.75
Trail your stops to the current lows of 103.34 -if target is not achieved of 103.75-103.80 then do not hurry in trade either let it break below 103.14 for targets 102.70-102.75
Trading@103.55 -Made Session High@103.65 -Once if it crosses -we will see 103.75-103.80 zone
Happy to pick UJ right in the bottom of 103.30-103.35
Close to target zone of 103.75-103.85
At 103.88 - UJ achieves 61.8% of 1-3 wave distance- likely objective
Trading@103.60 - Let us take 50 % profits & hold rest with cost price of 103.35
Trading@103.60 -Recent High@103.73
Book all email@example.com if traded long at 103.30-103.35
Prices looking to start down move.
UJ looks like started a fall below rising trendline & finished 5-wave series 102.72 - It's time again to kiss that same level with strict stops above 103.75
Good Session on NFP Day -7th Oct2016
130 pips from 103.90 to 104.15 then 104.15 to 102.85 & again running with 102.85 -longs for 104.40-104.50 - in all it will be 280 pips
Excited as I made 550-600 pips in all in the complete leg, which started from 101.50-101.70's when it was identified first.
Last explosive legs were 104.15 to 102.85 & 103.20's to 104.50's
UJ is almost ending c-leg of the triangle at 104.87 highs- in last attempt we made 160 pips
The fall from 104.87 is impulsive & very sharp- we will take any long positions only above 104.90- if it goes above that level. Going below 104 will confirm that UJ has put top at 104.87
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ