EWS
Long

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

FX:USDJPY   U.S. Dollar / Japanese Yen
201 views
4
201 3
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.
Reply
Great explanation with the different stochastics. it found support at the high 106s today.
Reply
EWS 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
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out