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Veejahbee

USDJPY ZigZag Long Trade Setup - Potential x3 RR

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Veejahbee  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Wave Analysis USDJPY usdjpylong usdjpylongsetup zigzagpattern trendcontinuation
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trendanalysis chartpattern waveanalysis usdjpy usdjpylong usdjpylongsetup zigzagpattern trendcontinuation
Hi Traders! It has been a while here. Check out my current trade setup on USDJPY.
  • Price has completed a simple zigzag which might be part of the circled wave iv potential triangle pattern.
  • Wave c equals a and it's also testing the lower boundary of the parallel channel.
  • The breach of the upper green level will be our conservative entry.
  • Market has presented an early entry from the lower green level.
  • The price must stay above the red invalidation level for this setup to remain valid.

What's your view on UJ? Let me know in the comment.
Thanks,
Veejahbee.
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