USDJPY: Time for a Correction

FX:USDJPY   U.S. Dollar / Japanese Yen
1281 35 11
Update: first target hit, moved stop to break-even
Closed first half at first target= +90
Closed second half at 102.11= +74

An outside bar on a test of 1.618 extension level and potential reversal zone for a bearish Crab Harmonic pattern . The pattern's target is near the 38.2 retracement level at 101.00. A more conservative target at the low of the outside bar at 101.96. A break above the high of the bar may negate this setup.
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very nice pattern!
I prefer to close my short term as price has broken-out of an hourly falling wedge.
Technician PRO Technician
**close short position
AncientM Technician
But price is still in that range....i.e. ups and down without any directional run despite of the yesterday's good US data!
Yeah, but my stop loss was at break-even for the second half, so it was going to trigger stop.
I am biased to hit and run mentality :).
huntingsniper Technician
Very good early warning for Friday's big jump!
huntingsniper huntingsniper
I like this technique
thanks but what about now ?
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