mcquak
Short

Bearish crab has completed

FX:USDJPY   U.S. Dollar / Japanese Yen
198 4 1
We can see that bearish crab has been finished. With that being said we can await price testing all level in possible reversal zone, so we could experience price reaching 2.618 level of ABC fibo. expansion. Once all levels in PRZ are tested and we have some secondary confirmation ( RSI declining through 70 level from upside, RSI and-or stochastic divergence) we can experience price going down.
How far down do you look at - Is this just a correction before a charge towards 104?
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mcquak jakebaty
My first scale point is X at 100.10, but from longer term perspective I'm expecting price could go down to B point (around 99.100).
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mcquak mcquak
Sorry X is at 100.60 of course.
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All levels in PRZ tested. M pattern is forming on RSI(14) most probably we could go short on this pair
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