JWagnerFXTrader
Long

USDJPY Dip in an Uptrend - Watch 103.50-104.63

FX:USDJPY   U.S. Dollar/Japanese Yen
575 1 22
USDJPY             appears to be putting in the finishing touches to a corrective move lower. We can see an elliott wave impulsive move higher followed by what appears to be an a-b-c expanded flat correction. We can use wave measurements to gauge higher probability areas where blue wave 'c' may terminate.

3 areas I'm watching:
104.63 = wave 'a' low
103.90 = 38.2% retracement of the impulsive move
103.60 = equal overthrow below the wave 'a' low that we saw in wave 'b' above 'v'

If price does move down into these zones, be watchful for bullish reversals that may drive up towards 111 or higher.

If you are looking for intraday shifts in momentum , consider checking out the Grid Sight indicator.

Good luck!

Forex trading carries a high level of risk and losses can exceed deposited funds. Past performance is no indication of future results.
Guerrera
4 months ago
Hi JWagner, is it time now to play long, could you give your opinion please?
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out