Longer term I expect USDJPY to reach 107, however short term I expect at least another leg higher within this correction of larger degree.
I will be looking for a buy opportunity from the lower time frames to target 116.
At the moment we see an impulse on the 15 min time frame of lesser degree and I will be looking for a consolidation on 15 min time frame to end by means of a bullish continuation Price should in that case not take out the low of what is currently counted as wave B.
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I will be looking for a buy opportunity from the lower time frames to target 116.
At the moment we see an impulse on the 15 min time frame of lesser degree and I will be looking for a consolidation on 15 min time frame to end by means of a bullish continuation Price should in that case not take out the low of what is currently counted as wave B.
www.timstuyts.com
facebook/timstuyts/
Comment:
Let's see whether price consolidates after the impulse higher from the double bottom zone. If we see the continuation higher buy USDJPY for 116.
Trade active:
Hope you guy's didn't miss this trade. We saw that consolidation of lesser degree finding a bottom at 112. I'm long with 2 entries and both are at break even now. I target 116. each consolidation up to that level is another opportunity as long as structure doesn't change. My stops are alway's below the consolidation where I bought out of. Hence an incredible risk/reward for this trade so now I have to wait and see how price unfolds. Good trading
