has been struggling to break that level. The target of this pattern
stands around 111 (Minimum target , i.e 3/8 fib of CD leg).
On the price has made a second Kijun break
in a week, closing below the Monthly PP after retesting the
from below. Next level to the downside and
the real test of pressure, is the Monthly S1 at 116,35
close to the mid dec 2014 swing low. A sharp drop may expose
the Yearly PP which aligns with the lower kumo cloud support,
113,50-114 zone. Below that stands, as mentioned the
ABCD target at 111, not far from the oct 2014 high. On the
upside, 120,60 is the that, from a perspective,
should hold resistance, if more downside action is to be
expected. A very natural scenario, would be to see a test of
the yearly pp, before a move to the Yearly R1 around 127,50.