EWS
Long

Wave (iv) over. Look for a rally to 111.06 in wave (v)

FX:USDJPY   U.S. Dollar / Japanese Yen
200 3 4
With a perfect decline to the 38.2% corrective target of wave ( iii             ), which at the same time proved to be the bottom of red wave iv of one lessor degree, the odds for wave (iv) being over are high. I will buy EUR upon a break above 107.46 with a stop at 106.70 for a target at 111.06. We could see a move even higher to 112.07.

I think this trade does offer a very nice Risk/Reward potential
The minor resistance-line from 109.89 is broken and the buy-signal will be triggered upon a break above 107.40. As we saw a new low at 106.66 yesterday stop should be placed just below at 106.60. It's time to ride wave (v) higher.
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Great explanation with the different stochastics. it found support at the high 106s today.
Reply
EWS PRO TomPower
Thank you very much TomPower.

Yes, we still don't have proper a buy-signal. It will be given upon a break above the falling resistance-line near 107.35 and confirmed by a break above resistance at 107.46.
+1 Reply
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