Hi Traders , this is my long term analysis on USDJPY chart, it is just my view of the patterns that these waves could form and remember that
"The Markets surprise, always"
Right now there is an high probability that the USDJPY chart could create a similar structure like EURJPY chart
if we start from the impulse of Novembrer 2016, we can assume that the chart is into a Three Waves correction pattern.
From today (2-AUG-17) the prices could go from 110 to retest the top at 114.
Anyway there is also the chance (in the orange zone) that the prices could create a flag pattern and break the 108 support, to go deeper till the lower blue trend line, creating a structure almost equal to EURJPY.
If the uptrend restart to reach the point 3, in that zone i will look for a pattern to short, because i hardly belive that before a new big uptrend impulse, the prices will fall to the blue lower line (like EURJPY chart did), but watch out because in the zones 3-4-5 the prices could create complex patterns, changing the big structure, if this will happen, we will analize it again.
If the prices will finally drop to the lower blue line (B zone), there could be an high probability to have a new big uptrend impulse to reach in the long term the C zone.
I know, it looks too easy and too beautiful to be true, but we will see in the next months what will happen.
Always trade with care and have fun!
risk only 1% of your capital
money managment will save your life
Happy trading to everyone
"The Markets surprise, always"
Right now there is an high probability that the USDJPY chart could create a similar structure like EURJPY chart
if we start from the impulse of Novembrer 2016, we can assume that the chart is into a Three Waves correction pattern.
From today (2-AUG-17) the prices could go from 110 to retest the top at 114.
Anyway there is also the chance (in the orange zone) that the prices could create a flag pattern and break the 108 support, to go deeper till the lower blue trend line, creating a structure almost equal to EURJPY.
If the uptrend restart to reach the point 3, in that zone i will look for a pattern to short, because i hardly belive that before a new big uptrend impulse, the prices will fall to the blue lower line (like EURJPY chart did), but watch out because in the zones 3-4-5 the prices could create complex patterns, changing the big structure, if this will happen, we will analize it again.
If the prices will finally drop to the lower blue line (B zone), there could be an high probability to have a new big uptrend impulse to reach in the long term the C zone.
I know, it looks too easy and too beautiful to be true, but we will see in the next months what will happen.
Always trade with care and have fun!
risk only 1% of your capital
money managment will save your life
Happy trading to everyone